Airbnb just confirmed a massive $1.5 billion round that makes it the third-highest valued startup in the world
Fortune Global Forum
Airbnb CEO Brian Chesky.
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.
Next Story
A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single 
2 states where home prices are falling because there are too many houses and not enough buyers
"To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
7 Nutritious and flavourful tiffin ideas to pack for school
India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
Top 5 places to visit near Rishikesh
Indian economy remains in bright spot: Ministry of Finance
