Airbnb does not own a single hotel, hostel, or even a bed; rather, it makes its money by taking 3 percent of the transaction from the property owner, and 6 to 12 percent of the transaction from the traveller upon the two parties exchanging their services. With a user base of more than 35 million travellers, Airbnb has said that its sales have surged from $250 million to $850 million in the space of two years, although no plans for an IPO have been announced by the company. Airbnb's forecast $25.5 billion valuation will see the company join the ranks of taxi-service startup Uber, which is currently seeking to raise in excess of $1.5 billion in its next funding round to see the self-described ride-sharing company valued at $50 billion. Get the full story at ZDNet