Airbnb Fetches $1 Billion Value

The billion-dollar start-up club has a new member: Airbnb Inc.

The San Francisco Internet company, which offers a marketplace for people to book vacations in other people's homes, has raised a $112 million round of financing from Andreessen Horowitz, DST Global and General Catalyst. The investment values the company at $1.3 billion, according to a person briefed on the matter.

Airbnb's latest round comes amid rocketing investor interest for hot tech start-ups that are smaller than the likes of Facebook Inc. and Zynga Inc. but are growing fast.

Source: Wall Street Journal