(MENAFN) California-based Airbnb, the online accommodations hub, has arranged to raise USD1.5 billion, sending its value up to USD25.5 billion, a source close to the deal said, AFP reported.
A group of American and Chinese investment funds were involved in the discussions which are aimed at expanding Airbnb's offerings in Asia, according to the source, who asked not to be named.
The funds are General Atlantic, Tiger Global Management, Kleiner Perkins Caufield & Byers, GGV Capital, Horizon Ventures and from China Hillhouse Capital Group and China Broadband.
It would be among the biggest corporate capital infusions by a tech firm, among the likes of VTC Uber (USD2.8 billion), China's online giant Alibaba (USD1.6 billion) and Facebook (USD1.5 billion) before it went public.
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