Airbnb raises $1bn in series F, worth $31bn now

Nearly six months after vacation marketplace Airbnb filed SEC forms raising $555.5 million, the company has now announced the close of an oversubscribed round of more than $1 billion.

In its latest filings with the SEC that were submitted today, Airbnb said that it had closed its series F with an additional raise of $447.8 million. This brings the total amount raised in round F to over $1 Billion — at a valuation of $31 Billion.

Reportedly, Airbnb turned profitable in the second half of 2016 and anticipates that it will be profitable in 2017 on an EBITDA basis. Notably, the startup has no plans to go public anytime soon.

The San Francisco-based startup has come a long way since its humble beginnings with a huge global network that's no longer limited to few spare beds but whole homes covering all budgets, as well as a new line of “experiences.”

Meanwhile, the company is having its fair share of controversies as well. Airbnb has been the cause of a whole bunch of hotels overnight all over the place. This in turn, has led to investigations by city authorities about whether Airbnb homes are in violation of residency and hotel permits. For example, the company has been sued by apartment management company Aimco. This particular case revolves around whether or not Airbnb is helping  tenants break lease rules by renting out places that they themselves are renting out.

Politically the startup has been in news for its public stance against Trump's immigration orders.