Airbnb raising $1 billion from Corononavirus

In a press release, Airbnb says that private equity firms Silver Lake and Sixth Street Partners will invest $1 billion in a combination of debt and equity that will support Airbnb’s ongoing work to invest over the long term.

Airbnb is raising $1 billion, even as the coronavirus crisis hits the travel and hospitality industries especially hard.

The company did not disclose the latest valuation. But in early March, it lowered its internal valuation to $26 billion, from the $31 billion figure it raised money at in 2017, according to two sources familiar with the matter. Over the last month, travel stocks Expedia and Booking Holdings have declined about 40% and 17%, respectively.