Wallace Ho 8 Apr, 2020
Home rental company, Airbnb said raised $1 billion in new fundings earlier this week to take extra measures to increase cash reserve during the current health situation.
The investment was led by by Silver Lake and Sixth Street Partners, which was a mixture of equity and debt.
The internal valuation of the company has been lowered from $32 billion to $26 billion.
The company is planning to use the new resources to support ongoing work to invest over long term in its community of hosts.
Airbnb’s business has been impacted during the global travel shutdown. Many hosts in the platform have receive zero bookings over the past few months.
The company's planning to go public this year might be delayed due to the stock market volatility and uncertainty health situation worldwide.