It looks like Airbnb’s IPO may be farther away than some thought.
Per an SEC filing, Airbnb has authorized about $150 million in new equity funding, which, if fully raised, would bring its latest round to about $1 billion and value the travel-booking site at roughly $30 billion. The company's last equity financing was a $1.6 billion raise that closed last year at a $25.5 billion valuation. Given its high profile and past popularity with investors, Airbnb should be able to attract the new funds, which would give a nice cushion while timing its much-anticipated IPO.
There are other, non-financial clues that indicate Airbnb may not plunge into the public markets anytime soon. Initially launched as a service for booking short-term rentals, Airbnb seems to be diversifying its product offering before a flotation.
The latest fundraising comes about a month after Airbnb launched "Experiences," which offers users the ability to complement their travel plans with activities led by locals. The company is also working on a flight-booking feature, according to Bloomberg, which would essentially make Airbnb a full-service travel business. The company is aiming to launch "Flights" before pursuing an IPO, which will likely happen within 18 months, per Bloomberg.