Airbnb raises $1 billion in debt financing to create new travel services

Brian chesky airbnbKimberly White/GettyAirbnb CEO Brian Chesky.

Airbnb just raised $1 billion in debt financing from a group of major U.S. banks including
JPMorgan Chase & Co., Citigroup Inc., and Bank of America Corp., Bloomberg first reported.
The funding will be used to help Airbnb expand and develop new services.

The company is working to become a more full-service travel company, creating add-on travel services in hopes to grow beyond home-sharing, Bloomberg reported last March.

Airbnb is currently valued at $25.5 billion after a $1.5 billion funding round a year ago.

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