Airbnb reported an undisclosed profit during Q2 2016 and is now valued at $31 billion, reported CNBC. The online vacation-sharing portal also just raised $1 billion according to an SEC filing, presumably to expand its global presence. Sources told CNBC that the privately-held company has no foreseeable plans to go public.
At $31 billion, Airbnb is considered the second most valuable “sharing economy” company after ride-sharing Uber, which is valued at approximately $60-$70 billion.