The private company already has lots of cash—and it’s not done yet.
Airbnb has held a first close on its massive new funding round, Fortune has learned from multiple sources.
The San Francisco-based company so far has brought in at least $555 million in new primary equity at a $30 billion valuation, for an infusion that could eventually total $850 million.
This does not include an affiliated secondary transaction, through which early shareholders―mostly employees―can garner at least partial liquidity. Fortune had originally reported that the secondary offering remained open, but a source close to the company has since said that it has closed.
An SEC “Form D” document detailing the $555 million raise is expected to be filed later today.
The new investment follows a $1 billion credit facility Airbnb secured this past summer, meaning that it has raised approximately $4 billion in total outside funding to date....MORE