Home rental company Airbnb is reportedly near clinching $1.5 billion in fundraising that would value the company at $24 billion. The financing is expected to be led by U.S. private equity firm General Atlantic, according to the Financial Times. Other investors reflect international interest in Airbnb, reportedly including Hillhouse Capital of Beijing, investment firms Tiger Global and the United Kingdom's Baillie Gifford, as well as U.S. mutual fund group Wellington, Fidelity and T. Rowe Price (TROW). General Atlantic, Hillhouse Capital and Tiger Global are said to be new investors in the company. If the funding is completed, it would tie Facebook (FB) in 2011 for the biggest equity investment round for a private tech company. In its prior fundraising round just 15 months ago, Airbnb was valued at $10 billion. The agreement is expected to be announced imminently, according to sources familiar with the matter cited by the Financial Times.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.