Tag: sharing economy
Airbnb ups its debt by $1BN amid the coronavirus travel crunch
Airbnb has secured commitments of $1 billion for a syndicated term loan from institutional investors, it said. The emergency cash injection comes as the coronavirus travel freeze continues to hammer vacation rentals, with holidaymakers locked down at home and global travel banned or heavily discouraged for public health reasons. Neither…
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The Station: Starship expands, AutoX opens up shop and a big moment for e-bikes
Hi and welcome back to The Station, a weekly newsletter dedicated to the future (and present) of transportation. I’m your host, Kirsten Korosec, senior transportation reporter at TechCrunch. What you’re reading now is a shorter version of the newsletter, which is emailed every weekend. If you want to subscribe, go…
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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. Terms of the deal were not disclosed. It’s unclear how this…
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Airbnb to provide free or subsidized housing for 100,000 COVID-19 healthcare workers
The hospitality and travel industry may be reeling, but Airbnb is still doing what it can to support the global effort to fight the spread of the coronavirus causing a worldwide pandemic. The company announced today that it will provide “free or subsidized housing” for 100,000 people working as frontline…
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Uber suspends Uber Pool shared rides in the U.S. and Canada to help limit coronavirus spread
Uber has suspended its shared ‘Uber Pool’ class of rides, the company announced on Tuesday. The Uber Pool option would match up to three passengers together in one vehicle based on their destination, and Uber said in a statement from Uber Rides and Platform Vice President Andrew Macdonald that the…
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Airbnb extends no-charge cancellation policy due to coronavirus
Because of the current state of the global coronavirus pandemic, Airbnb has announced updates to its policies that provide reservation cancellations without charge for stays booked in specific areas. Guests who booked reservations through Airbnb in Mainland China, South Korea, Italy and the United States are now eligible to cancel…
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