Online home-rental marketplace Airbnb is in advanced talks with private equity firms including TPG Capital Management to raise funds that would value the company at about $10 billion, a person briefed on the matter said Thursday.
Airbnb webpageSource: Airbnb
TPG is likely to lead the funding round, which could exceed $400 million. Texas-based TPG recently made a large investment in ride-sharing company Uber,another major player in the burgeoning sector known as the sharing economy.
The Airbnb talks were first reported Thursday by The Wall Street Journal.
Airbnb, whose website rental listings range from private rooms to manors and islands, has become one of Silicon Valley's most successful start-ups in the five years since it was founded by a trio of graduates from the Rhode Island School of Design and Harvard.