Airbnb, the San Francisco-based tech company that allows homeowners to rent their residences to visitors, recently completed a new round of funding that raised more than $100 million. This round of financing comes on the tail of a similar round this summer that raised more than $1.5 billion for the late-stage startup. The company’s valuation of $25.5 billion remained steady through the latest round.
In its latest quest for investor financing, Airbnb touted strong year-over-year growth and promising revenues to attract investors. In investor presentations, the company claimed $340 million in third-quarter revenues from approximately $2.2 billion in bookings. Those numbers were up sharply compared with the same period last year. Moreover, the company increased its 2015 revenue projections to $900 million, a $75 million increase over the $825 million projection issued in July.
However, it isn’t all good news for potential investors. The company projected $150 million in operating losses for the year as it continues to pour money into expansion efforts. Furthermore, the rate of new listings was down from early 2014 to early 2015, though that figure has recently been on an uptick.
Airbnb’s revenues stem from fees the company imposes on its online users. The company takes three percent of all booking fees and between six and twelve percent of site-imposed service fees.
The positive investor news comes amid a barrage of regulatory issues the company has faced in recent months. Earlier in November, the company spent more than $8 million in a successful effort to defeat a San Francisco proposition that would have imposed various limitations on rental services like Airbnb. The company has also faced challenges in cities like New York, where it was forced to hand over information on 10,000 rental listings just last year.