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Airbnb attracts $1B investment from Silver Lake, Sixth Street

Airbnb Inc. has attracted $1 billion in funding from private equity firms Silver Lake and TPG Sixth Street Partners, according to an April 6 release.

The investment is a combination of debt and equity securities.

The announcement comes weeks after The Wall Street Journal reported that Airbnb has lost "hundreds of millions" of dollars because of the coronavirus outbreak.

In Airbnb's announcement of the funding, co-founder and CEO Brian Chesky said the investment will help the company as travel rebounds from the COVID-19 pandemic.

The vacation rental company said it will use a portion of the funds to invest in its hosts. A $15 million grant will be provided to hosts who rent out their own homes and need help paying their rent or mortgage.