Airbnb has secured a $one billion financial investment from private fairness firms Silver Lake and Sixth Avenue Partners as it seeks to temperature the plunge in demand from customers due to the coronavirus pandemic.
The financial investment, which is a mixture of credit card debt and fairness, increases Airbnb’s cash reserves to about $four billion. The organization experienced previously raised $four.6 billion and reportedly experienced a valuation of $35 billion, producing it a single of the most hugely valued pre-IPO unicorns.
The more money “will assistance Airbnb’s ongoing get the job done to devote around the long term in its neighborhood of hosts who share their properties and encounters, as very well as the get the job done to serve all stakeholders in the Airbnb neighborhood,” Airbnb reported in a news launch.
The travel and leisure marketplace has taken a pounding from the coronavirus, with Airbnb asserting very last week