Airbnb closes $1 billion round of funding; sees Q2 profit

Airbnb has closed on a more than $1-billion-round of funding, a source close to the company told a news channel. The round was confirmed in an SEC filing that dropped on Thursday. It is now worth approximately $31 billion. The company raised roughly an additional $450 million as part of its Series F round, making the round nearly twice as much as it stood last fall. The total amount raised was $1,003,312,065, according to the filing.

The company also turned profitable in the second quarter of 2016, a person close to the company confirmed to the channel. The home-sharing giant further expects to be profitable this year, the source said, and has no plans to go public soon.

Since its start in 2008, Airbnb has raised more than $3 billion.

Airbnb was last reported to be raising cash at a $30-billion valuation, making it the second-most valuable startup in the US, trailing only Uber. This latest round of funding ups the valuation to approximately $31 billion.