Airbnb has closed off its series F funding with $447.8 million, after having raised $555.5 million in the same round last year, reports TechCrunch. This brings the company’s total series F funding to over $1 billion, with a valuation of $31 billion. Interestingly, the report also mentions that the company is now profitable, and will be profitable on an EBITDA basis this year.
It’s worth noting that AirBnB has entered into a strategic partnership with and raised an undisclosed amount of investment from the Times of India Group in April last year. Times of India group had pioneered the private treaties business, now called Brand Capital, which involved taking equity in companies in exchange for marketing inventory, and this partnership was like a part of such a deal.
In November last year, Airbnb had expanded across the travel sector by launching Trips, which will offer customers tours and activities, and plans to add flights and services in the future. As we had said then, this shift, because it combines pretty much what most travelers intend to do, threatens existing travel service providers, as it means that it now starts aggregating more than just hotels, including tours, experiences, flights, trip recommendations, booking restaurants.
Along with Trips, Airbnb had also introduced a new identity authentication process for the Airbnb Experiences Community to use. Hosts and guests will have to share a scanned copy of an official government ID and also a simple selfie. After the ID is authenticated, the ID and selfie will be reviewed to confirm that both pictures appear to match.