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Airbnb nears major funding round on $10B valuation, report says

The company could raise as much as $400 million to $500 million in a round led by equity firm TPG, according to the report.

Airbnb, the service that connects travelers and those who want to rent their homes out to those folks, is closing in on a massive funding round, a new report claims.

Airbnb could raise between $400 million and $500 million in a round that would value the company at $10 billion, making it among the most valuable online startups in the world, The Wall Street Journal reported Thursday, citing people who claim to have knowledge of the company's plans. If completed, the round would be the first for Airbnb since 2012 when the company raised cash on a $2.5 billion valuation.

The accommodations service has been making headlines lately as it looks toward expansion. Earlier this week, the company said that it would consider partnering with other accommodation-like services, such as Uber, or create its own line of products to expand its current offerings. Airbnb didn't say exactly what it has planned.