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Airbnb raising $450-500M from TPG; The Smile Connection

Online room and space reservation business AirBnB has raised $500 million in funding at a valuation of $10 billion in a round led by TPG Growth, the equity investment arm of TPG, reports Techcrunch. Wall Street Journal meanwhile reports that the company raised $450 million in the round. The Smile Connection? Update: Smile Group Founder and Katalyzer General Partner Harish Bahl has informed us that AirBnB emerging markets project was already done by Springstar. While AirBnB hasn't revealed its plans, there is an interesting connection to note between the TPG and AirBnB: In 2012, Airbnb had tied-up with Smile group owned Springstar to launch international operations (including in India), and the Smile Group has recently announced a $100 million joint venture with TPG, called Katalyzers, to help companies expand to developing markets such as South East Asia, Middle East and Africa. We wonder if AirBnB will be a part of…

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