Airbnb is poised to join the 11-digit club.
The company, which was created nearly six years ago as a way to help people find spare rooms and couches to sleep on, is in advanced talks to raise more than $400 million in capital, a round of financing that would value it at more than $10 billion, people briefed on the matter said on Thursday.
Such a valuation would surpass that of Hyatt, the 57-year-old hotel stalwart, and make Airbnb the latest technology start-up firm to gain an eye-popping net worth. Investors hungry for a piece of the fastest-growing start-ups have opened their wallets, hoping to get even a small piece of the action before what they hope will be a giant payday.
READ THE ORIGINAL ARTICLE: New Capital Could Raise Airbnb Value To $10 Billion – NYTimes.com.