Reuters
- Airbnb has lowered its internal valuation to $26 billion, the Financial Times reported Thursday.
- That's a 16% drop from the company's previous valuation of $31 billion, according to Pitchbook.
- Airbnb has been hit hard by the coronavirus, which has all but halted travel globally, and was reportedly losing money even before the pandemic.
- The revised valuation adds another wrinkle to Airbnb's plans to go public this year, which it has reportedly considered delaying due to coronavirus fears.
- Airbnb CEO Brian Chesky predicted earlier this week that the company's business will bounce back after the pandemic, though hosts claim Airbnb's response has largely left them bearing the financial burden.
- Visit Business Insider's homepage for more stories.
Airbnb lowered its internal valuation by 16% to $26 billion, as the home rental firm deals with a sharp drop in bookings due to the global spread of the coronavirus pandemic, the Financial Times reported on Thursday.
The staff were informed of the new valuation by Chief Executive Officer Brian Chesky at a company-wide meeting on Thursday, the newspaper said, citing one person familiar with the presentation.
See the rest of the story at Business Insider
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