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Airbnb reveals multi-billion euro fund raising expansion plans

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Airbnb reveals multi-billion euro fund raising expansion plans

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The home-rental website, Airbnb, is reportedly looking to raise some 20-billion euros in financing.

The massive sum is based on the San-Francisco outfits earning projections.

Insiders believe the firm will make around €8-9 billion by 2020, despite ongoing legal tussles over lodging rights and local taxes.

Currently, Airbnb has about a 1% share of the global rental market, and it would need to increase that share to as much as 10% in only five years, according to some analysts.

The firm raised money in April last year at a €9 billion valuation. If it can seal the deal on this new round, it will be the second highest-valued startup behind taxi firm Uber.