Airbnb Raises $7.2M in Series A Funding

Airbnb, a San Francisco, California-based community marketplace for people to list, discover, and book spaces around the world online or from an iPhone device, has received $7.2M in Series A funding.

Investors include Sequoia Capital and Greylock Partners.
This brings the total amount rasied by the company to $7.8m.
Airbnb intends to use the funds to accelerate product innovation, expand into more cities and countries around the globe, and hire new staff.
Founded in August 2008, the service currently allows people to rent spaces by the day, night, week, or month in over 8,000 cities and 166 countries.
Airbnb also enables hosts and guests to share their experiences through a review system and offers a customer support designed to ensure that the process of using the application is secure.

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