Alphabet subsidiary Google Capital's participation in Airbnb's recently closed $850m round could presage advice on its newly formed innovation unit, as the company prepares to expand its offering.
US-based short term accommodation marketplace operator Airbnb reportedly raised $850m last week in a round led by internet and technology group Alphabet’s growth equity unit, Google Capital, representing its first direct corporate backing.
Google Capital co-led the round with growth equity firm Technology Crossover Ventures, according to the Wall Street Journal, and the round valued Airbnb at $30bn, up from the $25.5bn valuation at which it raised funding in 2015.
The round boosted Airbnb’s total equity funding to about…
