The San Francisco-based company so far has brought in at least $555 million in new primary equity at a $30 billion valuation, for an infusion that could eventually total $850 million.
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Airbnb has held a first close on its massive new funding round, Fortune has learned from multiple sources.
Home-sharing giant Airbnb has raised $555 million in new funding, stockpiling cash as it continues to battle regulators around the country and postpone an IPO.
Airbnb and Technology Crossover Ventures declined to comment.
The funding round is reportedly from Google parent company Alphabet. Airbnb closed a $1 billion debt financing over the summer.
Google Capital is a growth-equity arm of the company that has invested in companies including SurveyMonkey, GlassDoor, Care.com and Duolingo.
Airbnb is unlikely to go public soon, the Journal said. People familiar with the deal told The Journal that the cash infusion was created to relieve some of the pressure on the company to go public.
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Technology Crossover Ventures is among the lead investors in the round, said another person familiar with the matter. Roughly $200 million of employee stock was sold as part of that fundraising, these people said.
