Home-sharing company Airbnb is reportedly in talks to raise $1 billion in venture capital, which would boost the company’s valuation to $24 billion upon closing. That is a higher valuation than Marriott International, which is worth about $21 billion. The startup is telling investors it expects more than $900 million in revenue this year, up from the $850 million it projected in recent months, The Wall Street Journal reports. In 2013, Airbnb recorded revenue of $250 million. Airbnb also forecast its revenue to grow to $10 billion in 2020, the article states, at which time the company will become profitable. The company is currently burning cash to expand, and forecasts an operating loss of approximately $150 million for 2015, according to the Journal.
