Wall Street Set to Rise as Markets Show Optimism: Live Updates

The company, which is based in San Francisco, is valued at $31 billion by private investors. It began fielding unsolicited offers last week from venture capital firms, private equity firms and sovereign wealth funds, according to a person familiar with the situation. Offers have ranged from $100 million to $1 billion, the person said. Valuations have not yet been discussed.

The deal talks were first reported by CNBC.

Airbnb has not decided whether it will raise more funding, which could be used to snap up smaller competitors that are struggling amid the industry downturn, the person said. The company has $3 billion in cash on its balance sheet and access to another $1 billion line of credit.

Reporting and research were contributed by Alexandra Stevenson, Ben Dooley, Adam Satariano, C.J. Hughes, Ben Casselman, Niraj Chokshi, Daniel Victor and Kevin Granville.

Article source: https://www.nytimes.com/2020/03/20/business/stock-market-today-coronavirus.html