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Airbnb disclosed in an SEC filing yesterday that it has raised nearly $448 million in new Series F funding, bringing the overall round total to just over $1 billion. This does not include related secondary transactions, nor were any new investors identified.
Why it's the BFD: Airbnb continues to be the Silicon Valley "mega-unicorn" with the lowest likelihood of being disrupted itself, despite ongoing municipal regulatory battles over taxes and affordable housing. Moreover, a source close to the company says that Airbnb turned profitable on an EBITDA basis in the second half of 2016, and expects it to persist throughout 2017. This means it should have greater operational and investment flexibility.
Going forward: There continues to be no indication that Airbnb plans to go public in 2017, in part because it still needs to sort out the aforementioned regulatory issues in big media markets like New York. Plus, it's regular secondary tenders to early shareholders and vested employees means that it has less internal pressure to ring the bell.