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Airbnb has closed a $1 billion Series F funding round that values the home-rental startup at around $31 billion, according to a Thursday SEC filing.
CNBC was the first to report the closing of the round.
Airbnb raised $555,462,180 as part of its Series F round late last year, according to a source close to the company, and Thursday’s SEC filing shows it has now closed its Series F raise with another $447,849,885, bringing the total raise to over $1 billion.
The most recent round was oversubscribed, the source told Business Insider.
According to the source, Airbnb has “no plans to go public anytime soon,” but was profitable in the second half of 2016. The startup expects to continue to be profitable in 2017.
Airbnb got its start in 2008 when its founders set up an air mattress in their apartment living room and rented it out to visiting tourists. Now nearly 10 years later, Airbnb has expanded from a cheap air mattress in a crowded city apartment to renting out townhouses in Tuscany or geodesic domes in Californias. Additional reporting by Biz Carson.