In The News

Airbnb Raises $1Billion Through Private Equity

Published by

On April 6, Airbnb announced that it has now raised $1 billion USD in debt and equity through two private equity firms, Silver Lake and Sixth Street Partners. The exact terms of the deal have not been disclosed, and it’s also unclear how it could affect Airbnb’s earlier plans in going public.

With the coronavirus pandemic still going on, many governments across the globe have now issued stay-at-home orders and have even closed their borders to international travel, affecting the tourism and hospitality industry.

Silver Lake co-CEO and managing partner Egon Durban said in a statement: “While the current environment is clearly a difficult one for the hospitality industry, the desire to travel and have authentic experiences is fundamental and enduring. Airbnb’s diverse, global, and resilient business model is particularly well suited to prosper as the world inevitably recovers and we all get back out to experience it.

The new deal comes in after Airbnb set aside a $250 million USD fund, adding to aid the reimbursement of hosts which have had their bookings cancelled between March and May due to the coronavirus situation.

Recent Posts

Mahindra Unveils Five New SUV Concepts Which Looks Straight Out Of Cyberpunk 2077

Mahindra is back in the EVs race with an aggressive lineup for the near future

3 hours ago

Honda CB300F First Impressions: Has The Play-It-Safe Strategy Paid Off?

We set off to Hyderabad's Ramoji Film City to take Honda's latest premium bike for…

1 day ago

Your Weekly Tech Guide To The Coolest Gadgets & Accessories

From soundbars to smartwatches, this week had something in store for all tech enthusiasts

3 days ago

Mahindra Drives In New Scorpio Classic With An Updated Design And A New Engine

The OG Scorpio gets up to speed with 2022

3 days ago