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Airbnb’s new funding round makes it the second-most valuable startup in the United States

The home rental company is staring down a $30 billion valuation.

Airbnb CEO Brian Chesky
Kimberly White / Getty

Last year, Airbnb raised $1.5 billion at a $25.5 billion valuation. Earlier this month, the company raised $1 billion in debt financing.

And now, sources close to the company tell Recode, Airbnb is currently raising an undisclosed amount of cash at a $30 billion valuation. Such a deal would make Airbnb the second-most valuable startup in the United States, trailing only the $62.5 billion Uber. The New York Times first reported details of Airbnb’s latest round.

With all the new money, Airbnb plans to grow its global operation. Bloomberg has previously reported that the company plans to add booking features later this year for things beyond short-term home rentals (think museums, restaurants, etc.).

In the meantime, Airbnb is being kept busy on the legal front. Earlier this week the company filed suit against the city of San Francisco for imposing stiff penalties on home rental registration rules that Airbnb helped write.

The company is also locked in a battle with the New York government, where state legislators recently passed a bill that would further restrict the company’s listings.


Airbnb CEO Brian Chesky at 2015 Code Conference

This article originally appeared on Recode.net.

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