According to published reports, a group led by private-equity firm TPG has finalized an agreement to invest $450 million in Airbnb valuing the home-rental site at $10 billion.

The investor group also includes investment firm Dragoneer Investment Group, mutual fund T. Rowe Price Group and venture-capital firm Sequoia Capital.

Founded in August of 2008 and based in San Francisco, California, Airbnb is a trusted community marketplace for people to list, discover, and book unique accommodations around the world - online or from a mobile phone.

Whether an apartment for a night, a castle for a week, or a villa for a month, Airbnb connects people to unique travel experiences, at any price point, in more than 34,000 cities and 192 countries. And with world-class customer service and a growing community of users, Airbnb is the easiest way for people to monetize their extra space and showcase it to an audience of millions.