CNBC's Deirdre Bosa reports on how Airbnb is trying to assist its hosts.
The terms of the round were not disclosed, but a source familiar with matter said, "there is no rachet or any other coercive terms. It's attractive for Airbnb." The source added the funding doesn't depend on Airbnb's performance or reaching a target date to go public.
The fundraising comes as travelers cancel trips amid the global coronavirus pandemic and the start-up grapples with a slowdown in bookings. It also bucks the trend of venture capital deals simmering down as the markets plunge on coronavirus fears. Investors told CNBC they predict fundraising rounds generally stalling and reaching less eye-popping valuations.last month, Airbnb has fielded "significant interest" from investors over the last few weeks.
Silver Lake and Sixth Street are new investors and, according to a source, the company chose them because they are "focused on the mission" and "believe travel is enduring."in recent years as some of the sector's best-known names boost their capital for such deals.
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