[caption id="attachment_22422" align="aligncenter" width="600"] It's been reported that Airbnb has turned a profit for the first time.[/caption]
It's been revealed that accommodation portal Airbnb has turned a profit for the first time!
A source close to the company told CNET that the San-Francisco based home rental company became profitable for the first time in the second half of 2016.
The company's revenue is said to have grown more than 80 percent over last year, and the company is expected to continue to be profitable throughout 2017, the source said.
Initially, Airbnb focused its business model on taking a 9 percent to 15 percent cut from all home rentals booked through its site. But over the last year it has expanded into new areas like its "Trips" platform, which lets travelers book everything from homes to excursions organized by locals.
Last week it was reported that the company was in talks to acquire Tilt, a crowdfunding company that allows for groups and communities to collect, fundraise, or pool money online.