Airbnb just raised a massive $1 billion round of funding that values the company at around $31 billion
CNBC was the first to report the closing of the round.
Airbnb raised $555,462,180 as part of its Series F round late last year, according to a source close to the company, and Thursday's SEC filing shows it has now closed its Series F raise with another $447,849,885, bringing the total raise to over $1 billion.
The most recent round was oversubscribed, a source told Business Insider.
According to a source close to the company, Airbnb has "no plans to go public anytime soon," but was profitable in the second half of 2016. The startup expects to continue to be profitable in 2017.
Airbnb declined to comment.