Airbnb has announced it has raised $1bn from investors and has raised an additional $300m in a series of equity rounds, as the company continues to ramp up its expansion into cities across the United States.
Airbnb’s investors include the private equity firm Blackstone Group, the private investment firm BlackRock, and the venture capital firm Sequoia Capital, which has also invested in other Airbnb companies.
The new funding will help the company to further expand its services to more people, including expanding its service to more cities, the company said in a statement.
The company said the investment in the initial public offering comes on the heels of the company raising $1,096m from Sequoias, Blackstone, BlackRock and Sequoiah Capital in a funding round earlier this year.
Airbus is aiming to grow its service from an estimated $50 million to more than $100 million a year, and said it is now looking to add up to 5,000 people a day.