Airbnb has announced that it has secured commitments of $1 billion for a syndicated term loan from institutional investors.
Airbnb said that the new resources will ensure that it can continue to invest in its company and community of hosts and guests in over 220 countries and regions around the world.
Airbnb co-founder, CEO and head of community Brian Chesky stated, "I deeply appreciate the confidence and trust that so many have shown in our company even as every sector in travel is going through the storm of the pandemic.
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"We know travel will return, and, rather than merely hunkering down, the support we have received will allow Airbnb to continue moving forward as we invest in our community.
"All of the actions we have taken over the last several weeks assure that Airbnb will emerge from the storm of the pandemic even stronger, regardless of how long the storm lasts."
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