Airbnb has reportedly raised more than $100 million in new funding, valuing the company at around $25.5 billion, the Wall Street Journal reports. The San Francisco-based home-sharing startup generated $340 million in the last fiscal quarter on bookings of $2.2 billion. Airbnb expects to become profitable next year a source told AFP. The company raised $1.5 billion in the summer, and this latest funding is said to be an expansion of that round.
Quizlet, an education technology startup, has raised $12 million in Series A funding led by Union Square Ventures and Costanoa Venture Capital. Altos Ventures and Owl Ventures also participated in the funding round for the learning tools provider. “I look at the education category on iOS and Android regularly to see how our education portfolio companies are doing. Every time I do that I see Quizlet at or near the top of that category. I’ve wanted to be an investor in Quizlet for a long long time, and I’m very pleased that it has come to pass,” said Fred Wilson, USV partner and Quizlet board member.
SportPursuit.com, a flash sales website for outdoor and sports gear, has raised $9.5 million in Series C investment from Scottish Equity Partners, Grafton Capital and Draper Esprit. Stuart Paterson, Partner at SEP commented: “We are particularly impressed with the dynamic and talented management team at SportPursuit and the rapid growth they have achieved to date. Their strong background in retail strategy and their clear focus on the premium end of the sports clearance market makes them well placed to capitalise on their current position in the UK and to translate that globally.”
E-commerce marketing company Sidecar has completed a Series B round of funding worth $8 million. Ascent Venture Partners led the round, with participation from Osage Venture Partners and other new and existing investors. The company will use the funds to further develop technologies that optimize product advertising channels. “In a very short period of time, Sidecar has clearly established itself as a true leader in programmatic, product-level advertising,” said Luke Burns, general partner at Ascent Venture Partners. “As investment in product-level advertising continues to increase, Sidecar has tremendous growth potential, and we’re thrilled to back Andre and the rest of the team in pursuing this opportunity.”