Airbnb has been valued at US$13bn

24 Oct 20141 Share

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Image by Lynn Friedman/Flickr

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Lodging website Airbnb has been valued at US$13bn, marking a US$3bn increase from earlier this year for the firm.

According to The Financial Times, the growth has been announced as the company prepares an employee stock sale. To allow staff members to sell their shares, existing investors will be invited to buy back tens of millions of dollars worth of stock.

The valuation makes Airbnb the second most valuable private company in Silicon Valley, California, second only to ride-sharing service Uber.

Airbnb has recently established a major Hospitality Lab in Dublin, where it will grow employment from 100 people to 200 people this year.

“We came to Dublin because it has hospitality in its DNA and I’ve been so inspired by the culture we’ve already created in our office here,” said company co-founder Brian Chesky in April.

“We have an amazing home in Dublin from which we’re supporting our community across Europe and I can’t wait to welcome another 100 people to join us.”

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Dean is a freelance journalist and editor covering media.

editorial@siliconrepublic.com