In the face of a seemingly endless stream of shenanigans and lousy press, Airbnb has still managed to raise a whopping $1.5 billion in its latest round of funding, which places the short-term rental service at a (frankly unbelievable) valuation of $25.5 billion. According to The Wall Street Journal, the private equity firm General Atlantic led the funding, along with Hillhouse Capital Group and Tiger Global Management, all told buying about a third of all shares. The company's earnings is expected to surpass $900 million this year, and despite this absurdly high valuation, Airbnb is currently facing a long and difficult road of legal challenges in New York City. [WSJ via TRD; previously]
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