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Airbnb's bridge too short

Hi everyone, welcome back to Trending, Business Insider Prime's weekly newsletter of the latest tech industry developments. I'm Alexei Oreskovic, Business Insider's West Coast bureau chief and global tech editor.  This week: Airbnb's bridge too short If Zoom is the global quarantine's tech darling (privacy snafus and trolls aside), then Airbnb is emerging as the collateral damage of our new reality. It's no secret that the near total suspension of travel, vacations, and general life-as-we-kno...
Tags: Google, Amazon, Hollywood, Trends, Beverly Hills, Silicon Valley, Airbnb, Jeff Bezos, West Coast, Silver Lake, Sean Parker, Troy Wolverton, IPO Airbnb, Paayal Zaveri, Ivan Zhao, Melia Russell


Airbnb is reportedly already looking to raise another $1 billion to see it through the coronavirus crisis

Airbnb announced on Monday it has raised $1 billion to help see it through the coronavirus crisis. Bloomberg reports the company is looking to raise a further $500 million to $1 billion. Airbnb's business has taken a pummelling due to the coronavirus crises decimating its business, just as the firm was planning to go public. Visit Business Insider's homepage for more stories. Airbnb is looking to raise another $1 billion to weather the coronavirus, Bloomberg reports. Airbnb announced on Monda...
Tags: Trends, Bloomberg, Airbnb, Wall Street Journal, Silver Lake


Airbnb is reportedly already looking raise another $1 billion to see it through the coronavirus crisis

Airbnb announced on Monday it has raised $1 billion to help see it through the coronavirus crisis. Bloomberg reports the company is looking to raise a further $500 million to $1 billion. Airbnb's business has taken a pummelling due to the coronavirus crises decimating its business, just as the firm was planning to go public. Visit Business Insider's homepage for more stories. Airbnb is looking to raise another $1 billion to weather the coronavirus, Bloomberg reports. Airbnb announced on Monda...
Tags: Trends, Bloomberg, Beverly Hills, Airbnb, Jeff Bezos, Wall Street Journal, Silver Lake


10 things in tech you need to know today

Good morning! This is the tech news you need to know this Wednesday. WeWork board members are suing SoftBank for backing out of a plan to buy $3 billion of shares. The committee wants to force SoftBank to complete the tender offer or to give the committee money to compensate for their loss.  Twitter CEO Jack Dorsey is putting $1 billion of his own wealth into a fund for coronavirus relief and other aid efforts. Dorsey estimated it amounts to about 28% of his total wealth.  Zoom CEO Eric Yuan h...
Tags: Amazon, China, Boston, Softbank, US, Trends, Tesla, Airbnb, Jack Dorsey, Wall Street Journal, Yuan, Silver Lake, Alexa, Dorsey, Zoom, Forbes


Airbnb is reportedly paying a steep 10% interest on the debt it just raised in its $1 billion funding and its valuation is nearly half what it was in 2017

Airbnb will pay more than 10% in interest on the additional funding it just secured from Silver Lake and Sixth Street Partners, The Wall Street Journal reported Tuesday. The investors were also offered warrants that can convert into stock based on a valuation of $18 billion, a significant drop from Airbnb's previous valuation of $31 billion, according to The Wall Street Journal. Airbnb announced Monday that it had raised $1 billion in debt and equity, but the deal terms had not been previously...
Tags: Trends, Libor, Airbnb, Brian, Wall Street Journal, Silver Lake, Reuters, PitchBook, London Interbank, Wall Street Journal Airbnb, Sixth Street Partners


Airbnb to terminate $1 billion credit facility after private equity deal: sources

The deal with Silver Lake and Sixth Street is comprised of $1 billion in five-year debt yielding 11% to 12% and warrants that can convert into stock equating to a little over 1% of Airbnb's total equity, the sources said. The deal raised Airbnb's cash reserves to around $4 billion. Airbnb is now also in talks with banks about a new line of credit that could be worth as much as $750 million or $1 billion, one source said.
Tags: Business, News, Airbnb, Silver Lake


Meet the 15 youngest billionaires in America

Forbes released its 2020 edition of the World's Billionaires List, which ranks the richest people in the world. The youngest billionaire on the list, 22-year-old Kylie Jenner, is the founder of Kylie Cosmetics. In late 2019, she agreed to sell 51% of her company to beauty conglomerate Coty Inc. for $600 million. The deal valued her company at $1.2 billion. The 15 youngest billionaires in America are collectively worth over $100 billion. Visit Business Insider's homepage for more stories. Some...
Tags: Facebook, Mark Zuckerberg, Instagram, Microsoft, Stanford, US, America, Trends, Walmart, World, Snapchat, Harvard, Sabmiller, Airbnb, John, Evan Spiegel


Airbnb acquires $1B in debt, equity funding to fuel post-virus plans

The funds will be used to recruit hosts, introduce longer-term stays, and bolster the company's Airbnb Experiences program.
Tags: Radio, Venture Capital, Airbnb, Silver Lake, Industry News, Select, Debt Funding, Equity Funding, Short-term Rental, Funding Round, Property Portfolio, Sixth Street Partners, Short-term Rental Market


Daily Crunch: Airbnb raises another $1B

Airbnb turns to private equity for new funding, WhatsApp takes new steps to fight disinformation and another potential COVID-19 vaccine enters human trials. Here’s your Daily Crunch for April 7, 2020. 1. Airbnb turns to private equity to raise $1 billion Airbnb said Monday that it has raised $1 billion in debt and equity from PE firms Silver Lake and Sixth Street Partners, even as the online rental marketplace has seen its business plummet due to the COVID-19 pandemic. Terms of the deal wer...
Tags: Fundings & Exits, Facebook, Funding, US, America, Tech, Cnn, Factual, Airbnb, Bill, Melinda Gates, Silver Lake, Matt Murphy, Menlo Ventures, Kleiner Perkins, Dennis Crowley


Silver Lake, Sixth Street Partners Invest $1 Billion in Airbnb

Airbnb announced today that Silver Lake and Sixth Street Partners will invest $1 billion in Airbnb in a combination of debt and equity securities. 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.
Tags: Travel, Airbnb, Silver Lake, Sixth Street Partners


10 things in tech you need to know today

Good morning! This is the tech news you need to know this Tuesday. Airbnb has raised $1 billion in debt and equity from Silver Lake and Sixth Street Partners, the company announced Monday. Airbnb has been hit hard by the coronavirus pandemic, which has all but halted travel globally, and was reportedly losing money even before the outbreak. Renters and deposit insurance startup Jetty laid off roughly 35 employees on Friday, or 40% of total staff. The cuts come days after Jetty, and its reinsur...
Tags: Apple, Google, Amazon, UK, Microsoft, Softbank, US, Trends, Airbnb, WeWork, Seattle, Staten Island, San Francisco Bay, Silver Lake, Alexa, Masayoshi Son


Covid 19 coronavirus: Airbnb raises $1.6 billion from new investors as virus hampers business

Airbnb has raised US$1 billion ($1.6b) in debt and equity from new investors as the global coronavirus outbreak hampers business on its site ahead of a planned public listing this year.The short-term rental company said on Monday... [Author: [email protected]]
Tags: Business, US, Airbnb


Airbnb could run out of cash in one year, even with the $1 billion it just raised, because of how devastating the coronavirus is on its business

The $1 billion in cash Airbnb announced Monday that it has raised likely won't last the company very long. Even before the coronavirus epidemic hit, the travel startup was losing money; thanks to the crisis, its losses and cash burn have likely exploded. In a worst-case scenario, it might not have enough cash to last a year, despite the new funding. More likely, thanks in part to some cost cuts, it can extend its life beyond that, but not by much, particularly if the crisis and associated econ...
Tags: US, San Francisco, Trends, Bloomberg, Beverly Hills, Airbnb, Jeff Bezos, Wall Street Journal, Journal, Silver Lake, SIEGEL, Troy Wolverton, EBIDTA, Airnb, Hurricane Maria, Scott Shatford


Airbnb Raises $1 Billion to Stockpile Cash in Pandemic

The home rental company raised new funding as its business has been roiled by the coronavirus.
Tags: News, Venture Capital, Private Equity, Airbnb, Brian, Start-ups, Chesky, Silver Lake Partners, Layoffs and Job Reductions, Initial Public Offerings, Hotels and Travel Lodgings, Travel and Vacations, Coronavirus (2019-nCoV


Airbnb raises $1 billion from investors as the company takes a big hit from the coronavirus crisis

Airbnb has raised $1 billion in debt and equity from Silver Lake and Sixth Street Partners, the company announced Monday. Airbnb did not disclose the terms of the deal, but a source told CNBC that "it's attractive for Airbnb" and doesn't depend on the company's financial performance or ability to go public by a specific date. Airbnb planned to go public this year, but has been hit hard by the coronavirus crisis on top of existing questions about profitability, with its valuation reportedly fal...
Tags: Trends, Beverly Hills, Airbnb, Jeff Bezos, Financial Times, Cnbc, Brian Chesky, Silver Lake, Sixth Street Partners


Airbnb turns to private equity to raise $1 billion

Airbnb said Monday that it has raised $1 billion in debt and equity from private equity firms Silver Lake and Sixth Street Partners, even as the online rental marketplace has seen its business plummet due to the COVID-19 pandemic. COVID-19, the disease caused by coronavirus, has prompted governments to issue stay at home orders that triggered a wave of cancellations in the travel and hospitality industries. “While the current environment is clearly a difficult one for the hospitality industry...
Tags: TC, Tech, Ceo, Sharing Economy, Airbnb, Websites, Brian Chesky, Silver Lake, Vacation Rental, Greg Greeley, Laurence Tosi, Egon Durban, Sixth Street Partners, Silver Lake Co


Venture-backed startups are laying off thousands of tech workers as the coronavirus strains finances. Here's a list of all of the startups that are cutting headcount.

Venture-backed startups have begun laying off employees, as the coronavirus and the subsequent economic shutdown has wreaked havoc on companies large and small.  Business Insider is keeping a list of running list of startups that are slashing headcount.  Visit Business Insider's homepage for more stories. Technology $1.5 billion ZipRecruiter just laid off hundreds only days after the CEO said the economy was headed for a steep increase in hiring after the end of the coronavirus The CE...
Tags: Softbank, Trends, Brookfield, Airbnb, Victoria, Andreessen Horowitz, Electric, Coca Cola, Business Insider, Kevin Durant, Reilly Media, Iris Nova, Popin


Should You House Hack a House or Condo in Austin

Should You House Hack a Condo or House in Austin? Purchasing a home is an incredibly rewarding experience in one’s life, but it isn’t the easiest decision in the world. You really have to take the time to decide if you are financially ready, and figure out if you know exactly what you want out of your home buying experience.At Open House Austin, we are huge proponents of house hacking your home. House hacking is supplementing your mortgage, taxes & insurance (henceforth referred to simply as “...
Tags: Home, Startups, Austin, House, Airbnb, Reality, Real-estate, Austin Startups, Airbnb Subtract, Airbnbing


How the Covid-19 crisis locked Airbnb out of its own homes

The short-let platform’s business model has been exposed. Bookings have fallen off a cliff but Airbnb simply can’t change tack“You would not have an empire without us,” an Airbnb host shouts down the lens in a video addressing the company’s billionaire co-founder and chief executive Brian Chesky. “It’s our homes on your platform. It’s our face on millions of listings. It’s our soul that brings the magic … It’s our place that makes you money.”lol airbnb landlords are losing their minds because pe...
Tags: Business, Real Estate, Technology, Money, IPOs, Travel & leisure, World news, Technology sector, Property, Renting Property, Airbnb, Brian Chesky, Coronavirus outbreak


Syndication Landscape for Rental Listings + Importance of a Renter Audience

[Editor’s note: This is part of the category product review series for the small landlord property management software sector. Originally published in the Geek Estate Mastermind.] Syndication is a necessary component of succeeding for any property management software vendor, short of a massive built-in audience of renters. After all, a landlord’s goal is to find a tenant for their property as soon as possible—which generally requires advertising a rental listing far and wide. The five companies...
Tags: Radio, Airbnb, Zillow, Rentals, Zumper, Redfin, Avail, Cozy, Zillow Group, Listings Syndication, Property Management Software, GE Mastermind Preview, Rental Listing Syndication, Zillow Rental Manager


10 things in tech you need to know today

Good morning! This is the tech news you need to know this Friday. A  leaked memo obtained by Vice revealed Amazon's efforts to mount a smear campaign against a worker it fired. The memo was written by Amazon's top lawyer and described the fired worker, Chris Smalls, as "not smart or articulate." Zoom's CEO apologized to the video conferencing app's millions of users over privacy concerns. "We recognize that we have fallen short of the community's — and our own — privacy and security expectatio...


Coronavirus is clobbering the real estate industry. From a frenzy of flex-office layoffs to iBuyers pressing pause, here's everything you need to know.

Offices, hotels, and malls have been emptied by the coronavirus, which could lead to more than 18 months of disruption in our day-to-day lives.  The crisis has hit venture-backed real estate startups hard, with flex-space providers like Knotel and Convene, short-term rental operators like Sonder and Zeus Living, and brokerage Compass all announcing layoffs and furloughs. It has also provided the largest experiment ever in remote work. Some real estate experts think that it might be a paradigm ...
Tags: Texas, Softbank, Trends, Brookfield, Airbnb, WeWork, Zillow, Sonder, Knotel


Airbnb has reportedly dropped its internal valuation to $26 billion as the coronavirus halts travel worldwide

(Reuters) - Airbnb lowered its internal valuation by 16% to $26 billion, as the home rental firm deals with a sharp drop in bookings due to the global spread of the coronavirus pandemic, the Financial Times reported on Thursday.The staff were informed of the new valuation by Chief Executive Officer Brian Chesky at a company-wide meeting on Thursday, the newspaper said, citing one person familiar with the presentation.Airbnb was valued at $31 billion in its most recent private fund-raising round,...
Tags: Trends, Airbnb, Financial Times, Brian Chesky, Bengaluru, Reuters, Reuters Airbnb, Sherry Jacob Phillips, Bhargav Acharya, PitchBook Airbnb


Airbnb lowers internal valuation to $26 billion as coronavirus hits bookings - FT

Airbnb lowered its internal valuation by 16% to $26 billion, as the home rental firm deals with a sharp drop in bookings due to the global spread of the coronavirus pandemic, the Financial Times reported on Thursday.
Tags: Money, businessNews, Airbnb, Financial Times


Kitchen of the Week: A ‘Frankensteined’ Historic House in Philadelphia’s Fishtown, Before and After

It was a gray waxed canvas tote that first caught my eye thanks to its leather strap made from a World War II gun sling. That was at a trade show several years ago, where Margaux and Walter Kent of Peg and Awl were also showcasing wooden bath trays, “apothecary cabinets”, and rope tree swings, all of which looked as if they had been created by nostalgists with very good taste. “Our work is made from old things found and recovered from misfortune and neglect,” they explain. “When the old eludes u...
Tags: Books, Ge, Iraq, Pennsylvania, Ikea, Philadelphia, Airbnb, FSC, Walter, Reclaimed Wood, Lewis, Clark, Peg, U S Army, Silas, West Chester


Dua Lipa interview: How I released an album from lockdown

The pop star dreamt up her new album in Las Vegas, but she's releasing it from an Airbnb in London.
Tags: UK, News, Airbnb, Las Vegas, Dua Lipa


Amazon's biggest day of the year is on a collision course with the coronavirus

Hello fellow work-from-homies and welcome back to Trending, Business Insider Prime's weekly newsletter of the latest tech industry developments.  I'm your host, Alexei Oreskovic, Business Insider's West Coast bureau chief and global tech editor.  This week: A risky April calendar and Amazon's biggest day of the year Whether you live for April Fool's Day or consider it a tiresome tradition, you probably agree that this isn't the right time for pranks that could mislead people. Google sent word...
Tags: Google, Amazon, Facebook, Japan, Texas, Microsoft, US, Trends, Netflix, Tokyo, Silicon Valley, Airbnb, West Coast, BI, Stewart Butterfield, Eugene Kim


Airbnb's hosts aren't impressed with the company's $260 million package to make up for coronavirus cancellations . 'People see it for what it is — it's PR.'

Property managers who list accommodations on Airbnb weren't overly impressed with the plan the company announced Monday to help them out. The $250 million fund the company set up to reimburse hosts for cancelled reservations will only cover a portion of lost revenue, and some property managers may see no benefit at all. The separate $10 million pot that Airbnb set aside for its so-called superhosts will likely offer help to only a small number of property managers, because of the difficulty in...
Tags: Congress, Ipo, San Francisco, Trends, Beverly Hills, Airbnb, Jeff Bezos, Caribbean, Brian Chesky, Dorsey, Business Insider, Southern California, Abb, Bethesda Md, Tampa Fla, Gilligan


How Coronavirus is Affecting Airbnbs, Resort Motels Alike

“I was booked solid until the end of July. Suddenly, everyone cancelled.” Jennifer, a frequent Airbnb host in Clinton Hill, Brooklyn, NY tells a now-familiar story. As a professor at New York University, she planned to use her additional income to fund a summer trip to Sweden. For many other hosts, the consequences of the […]
Tags: Real Estate, Sweden, Airbnb, New York University, Jennifer, More Dirt, Clinton Hill Brooklyn NY


Digital Trends Live: Zoom’s privacy, Airbnb’s relief fund, Fitbit Charge 4

On this Digital Trends Live, we discuss the top tech stories, including concern over Zoom’s data privacy.
Tags: Amazon, Gaming, Cars, Trends, Airbnb, Zoom, Dt Live, Digital Trends Live, Google Fitbit Charge 4