Airbnb raises $1.5 billion in single round

WASHINGTON, June 27 (UPI) -- Private lodging service Airbnb has raised $1.5 billion in one of the largest private-funding rounds ever completed.

The company is now valued at $25.5 billion, The Wall Street Journal reports. Leading international investors include the China-based Hillhouse Capital Group, Tiger Global Management and U.S. equity firm General Atlantic, which collectively took responsibility for a third of the home-rental company. Other investors involved were Tamasek Holdings and venture-capital firms Kleiner Perkins Caufield & Byers, GGV Capital, China Broadband Capital and Horizon Ventures.

Only three other companies have reached investment levels similar to Airbnb's. This year, Uber raised $2.8 billion while in 2011, Chinese online super-site Alibaba raised $1.6 billion. This funding round also matches that of Facebook's in 2011, which made it the biggest investment haul for a private technology syndicate at the time.

The transactions highlight a growing financial connection between Silicon Valley and China, Financial Time observes, while growing demand across Asia has attracted investments from U.S. companies.