The company is now worth north of $1 billion, according to our sources. It’s a big jump from the $7.2 million Series A it raised in November 2010. The company also received a “significant investment” from Ashton Kutcher just a few months ago.
“Today is a watershed moment – both for Airbnb as a company and for our community — that will enable us to touch new markets and expand our vision to make the world’s most interesting and inspiring places accessible to our users,” co-founder and CEO Brian Chesky said in a statement.
Andreessen Horowitz, whose portfolio companies now include Box.net, Foursquare, Facebook, Groupon, Instagram, Twitter, Zynga and Skype, led the round with a $60 million investment. Amazon.com founder Jeff Bezos is also reportedly invested as well.
The money is clearly meant to fuel growth rather than cash out its existing investors, something that Facebook, Groupon and others have done with their massive funding rounds. Airbnb faces international competition from companies like Wimdu, which it publicly calls “impostors.” They money could be used for international acquisitions, a strategy Groupon has liberally utilized.
“And while [Airbnb] has accomplished a ton in just a couple of years, we believe that they’re just scratching the surface of their potential,” Andreessen Horowitz partner Jeff Jordan said about the acquisition. “They have opportunities to go much deeper in their current categories, broaden into new categories of spaces, and build out their global footprint. They are truly pioneering a new marketplace, where access to spaces is more valuable than ownership.”