Airbnb is nearing the acquisition of social payments startup Tilt, reportedly for more of $50 million. The company has raised $62M to date and had been valued at $400 million in May 2015.
Acquiring Tilt would not only give Airbnb experience in the payments space in general, but also experience working with payments around social gatherings and events — and specifically getting those funded. Tilt was already popular with the college crowd in booking social events like trips and parties, and extending that to Airbnb seems natural enough. The price, we hear from sources familiar with the matter, is north of $50 million, though the deal is still fluid and things could change. The Information reported that the price may be between $10 million and $20 million. Either way, it’s a significant drop off from the $400 million valuation it picked up in May 2015. Tilt raised around $30 million in that financing round, and in total has raised around $62 million.