Airbnb Adds $1 Billion to War Chest for Expansion

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 financing gives Airbnb more money to spend on global growth strategies and expansion beyond home-sharing. The San Francisco-based company is building add-on travel services, Bloomberg reported in March, and it’s running a TV ad campaign right now, a particularly pricey form of customer acquisition. Read More>>

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