Home rental Web site Airbnb is reportedly near closing an almost $1 billion funding round at a $24 billion valuation. Airbnb has increased its revenue projection for this year to more than $900 million after performing better than it expected in the first quarter, according to the Wall Street Journal, which cited a person familiar with the matter. That would be up from its revenue of $250 million in 2013. A $24 billion valuation puts the company above hotel operator Marriott International (MAR), which is valued at $21 billion, and nearly double the $14 billion valuation of travel Web site Expedia (EXPE). And Airbnb only expects the growth to continue. The company reportedly expects its revenue to reach $10 billion in 2020. Founded in August 2008, Airbnb says it operates in 34,000 cities in 190 countries and has enabled more than 35 million guests to be hosted around the world.
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