Apartment-sharing startup Airbnb Inc has raised over $100 million in a new round of funding, a source close to the company said.
Airbnb, once a startup selling cereal, expects to achieve profitability in 2016, the source said.
Airbnb revenue doubled to $340 million in the third quarter on bookings of $2.2 billion, the source said.
The company expects revenue of $900 million this year.
The round was done at the same $25.5 billion valuation as the previous funding round over the summer, indicating that unicorns, or private tech companies worth $1 billion or more, are finding it tougher to convince investors to buy shares at continuously escalating valuations.
Some travelers prefer to use Airbnb not just for the cheaper price but also options such as renting an entire house, enjoying quiet neighborhoods lacking in hotels and benefiting from their host's local knowledge.