Airbnb Purchases Startup HotelTonight

Airbnb, the fastest growing lodging startup in the world, has announced it has acquired last-minute hotel booking company, Hotel Tonight.

HotelTonight was established in 2010, with an app and website that allows customers to book discounted hotel rooms, larger or small, on short notice.

The acquirer, Airbnb, will undoubtly use the new acquistion to boost its boutique hotel offerings. It is one of several matured startups that has jumped pass the billion dollar mark and expected to file an IPO later this year.

Airbnb is currently valued at $31 billion, according to the New York Times. HotelTonight is reportedly $465 million.

Terms of the deal were not disclosed.

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