Airbnb finally makes a profit

Home-rental marketplace Airbnb has finally turned its first profit since commencing operations in 2008.

The home-rental company became profitable for the first time in the second half of 2016, a source close to the company told technology website CNET.

Airbnb’s revenue grew more than 80 percent over last year, and the company is expected to continue to be profitable throughout 2017, the source said.

Airbnb declined to comment for this report.

The news of Airbnb profitability comes days after a purchased a stake in New York-based Resy.com, a restaurant booking platform which offers a consumer-focused mobile app that allows travellers to book tables at great restaurants at any time.

Airbnb had contributed a fresh round of funding worth $13 million to Resy.com along with the participation of First Data Corporation, RSE Ventures, and Lerer Hippeau Ventures.

The company, having raised a total of $3.1 billion in venture funding, and with a valuation of $30 billion makes it the fourth highest-valued venture-backed company in the world.


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June Ramli

June Ramli was a in-house journalist for Elite Agent Magazine.