Airbnb is seeking to raise a new round of funding that would put the value of the company around $30 billion, according to a new report from the New York Times' Leslie Picker and Mike Isaac.

A source close to the company confirmed that Airbnb is raising the new round to support new investments and growth opportunities for the home-rental company.

The new valuation would be triple of Aribnb's valuation two years ago, according to the Times, making it the second most valuable privately held tech startup after Uber.


This story first appeared on Business Insider