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.
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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).