Silver Lake and Sixth Street Partners to invest $1bn into Airbnb.

Silver Lake and Sixth Street Partners, two private equity firms, agreed to invest $1bn into Airbnb, an online marketplace for arranging or offering lodging, primarily homestays, or tourism experiences. 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. “The new resources will support Airbnb’s ongoing work to invest over the long term in its community of hosts who share their homes and experiences, as well as the work to serve all stakeholders in the Airbnb community,” Airbnb.