Airbnb valued at $31 bn in new funding round

San Francisco: Airbnb raised more than a billion dollars in a fresh funding round that valued the home-sharing startup at $31 billion, a source close to the company said. Airbnb added $448 million to the $555 million in funding it took in last year, according to a filing with the US Securities and Exchange Commission. Airbnb became profitable in the second half of last year before accounting for interest, tax, depreciation and amortization, according to the source. The new funding valued the company at $31 billion, and will give it “operational flexibility,” according to the source, who noted that Airbnb has no plans to go public “any time soon.” Airbnb, one of the most prominent members of the so-called “sharing economy,” has raised more than $3 billion since being founded in 2008.