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Airbnb’s Latest Investment Talks Could Value It at $30 Billion

June 28, 2016, 7:07 PM UTC
GERMANY-ECONOMY-PROPERTY-INTERNET-TOURISM
TO GO WITH AFP STORY by ELOI ROUYER A woman browses the site of US home sharing giant Airbnb on a tablet in Berlin on April 28, 2016. Berlin will from Sunday, May 1, 2016, restrict private property rentals through Airbnb and similar online platforms, threatening hefty fines in a controversial move meant to keep housing affordable for locals. / AFP / John MACDOUGALL (Photo credit should read JOHN MACDOUGALL/AFP/Getty Images)
John MacDougall — AFP/Getty Images

Apartment-sharing startup Airbnb is in talks for a new round of funding that would value the company at $30 billion, a source close to the company said on Tuesday.

Airbnb intends to use the financing to support new investments and growth opportunities, the source added.

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The New York Times first reported the news on Tuesday.

Airbnb, which expects to achieve profitability in 2016, raised over $100 million in a round of funding late last year that valued the company at $25.5 billion.

The San Francisco-based startup, which operates in nearly 200 countries, also secured a $1 billion debt facility in June from some big U.S. banks to finance its expansion plans.

To find out where listing your apartment on Airbnb could be a crime, watch:

The rise of Airbnb and other such startups have increased the pressure on the hotel bookings business of established travel companies such as Priceline Group (PCLN) and Expedia (EXPE).