Report: Airbnb Valuation Approaches $10 Billion

Airbnb, the company that connected web surfing to couch surfing, is in the process of raising $400 million to $500 million, a round that would value the company at around $10 billion, according to a report.

The Wall Street Journal cites "people familiar with the process" who say private equity firm TPG is leading the round. Reps from Airbnb could not be reached for comment.

At $10 billion, Airbnb would be worth more than some large hotel companies, including Wyndham Worldwide and Hyatt Hotels.

Founded in 2008 by Brian Chesky and Joe Gebbia, Airbnb now has more than 600,000 listings from people who want to rent out their homes, rooms or couches to strangers for money. Airbnb receives a portion of those fees. Read more...