Airbnb raises another $1 billion, and it's actually profitable


Does Airbnb need more money?

Apparently so. The home-rental company just finished raising another $1 billion, putting its total funding above $3 billion.

That means Airbnb is now valued at $31 billion, compared to the measly $30 billion it was valued at last September.

CNBC noted Airbnb's filing with the Securities and Exchange Commission, confirming its latest funding.

A source at Airbnb also told the network that the company became profitable in the second quarter of 2016, and expects to stay profitable in 2017. That's a big milestone for the darling of the sharing economy — and one that remains elusive for fellow industry heavyweight Uber, along with its other problems.

No wonder Airbnb's CEO is taking a vacation.

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