Airbnb raises $1bn from private investors for post-pandemic recovery
The company’s plans to go public in 2020 look uncertain
New York — Airbnb is raising $1bn in debt and equity securities from investors Silver Lake and Sixth Street Partners. The funding is an effort by Airbnb to shore up its finances after its business was devastated by the coronavirus pandemic that slammed the global travel industry.
Airbnb is likely not in immediate need of cash. Before the fundraising round, the company had more than $2bn in the bank, along with a $1bn credit facility, Bloomberg has reported. Now, though, the company’s plans to go public in 2020 look uncertain. “Given new debt and likely deep losses until the market improves, I would be surprised if the company completes an IPO this year,” said PitchBook analyst Paul Condra...
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