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Airbnb is reportedly standing out from other Silicon Valley "unicorn" startups in one major way: It's profitable, according to Bloomberg. It reached this milestone in the second half of 2016.

The company also expects to remain profitable in 2017, before interest, tax, and amortization, according to the report.

A source close to the company confirmed this to Axios, adding that Airbnb revenue grew more than 80% over 2016. Nearly all of the $3.1 billion the company has raised from investors remains on the balance sheet, says our source.

Why it matters: Large private tech startups with multi-billion dollar valuations like Airbnb, Uber, and Lyft have raised a lot of questions about whether their business models are sustainable and can reach profitability. Currently, neither Uber nor Lyft is turning a profit. These companies also face regulatory challenges in many places around the world, adding to doubts about their ability to survive or even go public.

The story has been updated with additional information.

Go deeper

Caitlin Owens, author of Vitals
4 hours ago - Health

Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan

Photo: Alex Wong/Getty Images

President-elect Joe Biden has picked former FDA chief David Kessler to lead Operation Warp Speed, a day after unveiling a nearly $2 trillion pandemic relief plan that includes $400 billion for directly combatting the virus.

Why it matters: Biden's transition team said Kessler has been advising the president-elect since the beginning of the pandemic, and hopes his involvement will help accelerate vaccination, the New York Times reports. Operation Warp Speed's current director, Moncef Slaoui, will stay on as a consultant.

The case of the missing relief money

Illustration: Sarah Grillo/Axios

A chunk of stimulus payments is missing in action, thanks to a mix up that put as many as 13 million checks into invalid bank accounts.

Why it matters: The IRS (by law) was supposed to get all payments out by Friday. Now the onus could shift to Americans to claim the money on their tax refund — further delaying relief to struggling, lower-income Americans.

The post-Trump GOP, gutted

McConnell (L), McCarthy (R) and Trump. Photo: Erin Schaff-Pool/Getty Images

Republicans will emerge from the Trump era gutted financially, institutionally and structurally.

The big picture: The losses are stark and substantial.

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