Airbnb may not be pulling in as much funding as Uber, but it’s raising more than pretty much every other startup out there. First reported by the Wall Street Journal back in June, the company has confirmed that it’s raised another $1.5 billion in funding, which brings its valuation to around $25.5 billion. This means that Airbnb is now the world’s third most-valuable startup, behind Uber and Xiaomi.
Home-rental site Airbnb filed a Form D with the SEC on Monday, confirming that the startup closed a$1.5 billion round in July. The new round reportedly raises the startup’s valuation to $25.5 billion. The news was first reported in June by The Wall Street Journal. General Atlantic Inc., Chinese firm Hillhouse Capital Group and Tiger Global Management lead the round, according to the Journal. Also involved in the round are public funds like Wellington Management and Baillie Gifford, which invest in private companies ahead of IPOs. An investor slide deck viewed by The Wall Street Journal’s Rolfe Winkler said the company had bookings of $2.2 billion, double the level one year ago. The company also generated $340 million in revenue in the third quarter, according to the Journal. The home rental company last raised money in April 2014 at a $10 billion valuation. This round makes it the third-highest valued startup out there, after Uber and Xiaomi.