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Non-Tech : Binary Hodgepodge
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To: stockman_scott who wrote (6065)3/20/2014 11:16:15 AM
From: Glenn Petersen1 Recommendation

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Airbnb Said to Pursue Valuation of Over $10 Billion in New Fund-Raising Round

By MICHAEL J. DE LA MERCED
DealBook
New York Times
March 20, 2014, 11:08 am

Airbnb is close to joining a rarefied group of start-ups: the 11-digit valuation club.

The couch-surfing company is close to raising more than $400 million in a new round of financing, a person briefed on the matter said on Thursday. The fund-raising effort would value the six-year-old start-up at more than $10 billion.

Leading the round is TPG, the investment firm that has already taken stakes in other Silicon Valley darlings like the car-ride service Uber.

The fund-raising round is the latest sign of exuberance in the technology world, as the new generation of start-ups fetches eye-popping valuations. Companies like the online storage provider Dropbox have been appraised at about $10 billion, while Facebook — itself worth more than $172 billion — bought the messaging app WhatsApp for $16 billion last month.

Airbnb is among the most talked about companies of the moment. Its services let people rent out their homes, collecting a cut of the payments. But its success has also made the start-up a target of regulators who are looking into whether the business is depriving states of tax revenues.

News of the fund-raising effort was reported earlier by The Wall Street Journal.\

dealbook.nytimes.com
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