April 07, 20 - 12:18 pm - LABS

Airbnb is raising $1 billion in investments amid crisis in tourism

Airbnb has raised $1 billion in debt and equity from investors Silver Lake and Sixth Street Partners. Terms of the deal were not disclosed. According to TechCrunch, it is not clear how this funding might affect the company’s plans to go public.

The funding is an effort by Airbnb to shore up its finances after its business was strongly hit by the coronavirus pandemic that affected the travel industry.

Bloomberg reported that Airbnb is probably not in immediate need of cash. Before the fundraising round, the company had more than $2 billion in the bank, along with a $1 billion credit facility.

26 billion

was the expected valuation of Airbnb in a public listing. The figures were estimated last month and were lower that the $31 billion initially calculated