Navigate this market better. Subscribe for FREE stock alerts and information.

Friday, April 18, 2014

TPG-led group to make $450 million investment in Airbnb -source, (NASDAQ: TROW)

A group led by private equity firm TPG Capital Management LP has agreed to invest $450 million in Airbnb Inc, valuing the online home-rental marketplace at $10 billion, a source familiar with the matter told Reuters. The source did not divulge the names of other investors.The investor group also includes investment firm Dragoneer Investment Group, T. Rowe Price Group Inc and Sequoia Capital, the Wall Street Journal reported earlier. (r.reuters.com/sek68v)Among the investors, TPG Growth, the private equity firm's middle-market and growth-equity arm, and Dragoneer are expected to invest about $75 million each in Airbnb, and Sequoia is expected to invest about $85 million, the Journal said.It was not clear from the story how much T. Rowe Price or any additional investors might put in.

T. Rowe Price Group, Inc. is a financial services holding company, which provides global investment management services through its subsidiaries to individual and institutional investors in the sponsored T. Shares of TROW traded higher by 0.36% or $0.29/share to $80.63. In the past year, the shares have traded as low as $69.90 and as high as $84.73. On average, 1531540 shares of TROW exchange hands on a given day and today's volume is recorded at 1740715.



Source