Airbnb Adds $1 Billion to War Chest for Expansion
A Cuban woman provides an Airbnb reservation service from a laptop in a rental house in Havana.
Photographer: Yamil Lage/AFP via Getty ImagesThis article is for subscribers only.
Airbnb Inc. secured a $1 billion debt facility from some of the largest U.S. banks to help the home-sharing company develop new services and fund growth initiatives, people familiar with the matter said.
The debt deal was led by JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp. Morgan Stanley also participated, according to the people, who didn’t want to be identified talking about a private transaction.