Airbnb has reportedly dropped its internal valuation to $26 billion as the coronavirus halts travel worldwide

Reuters

(Reuters) - 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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