Apr 6, 2020 - Economy & Business

Airbnb raises $1 billion to weather the coronavirus crisis

Photo illustration: Axios Visuals

Airbnb has raised $1 billion in debt and equity from Silver Lake and Sixth Street Partners.

Why it matters: Airbnb, like the rest of the travel industry, has taken a major business hit as a result of the coronavirus pandemic. The company recently halted all marketing spend and froze hiring. Questions also remain about its plans to go public this year.

  • Though the company didn't share how the deal values the company, Airbnb recently lowered its 409a valuation (an internal appraisal of its value) to $26 billion, down from $31 billion when it last raised funding, Axios has learned.
  • The new deal does not include any ratchets or coercive terms imposing conditions on the company, such as a timeline to go public, a source tells Axios.
  • There was no secondary sale as part of the deal either.

Go deeper: The gig economy's coronavirus test

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Trump says he will campaign against Lisa Murkowski after her support for Mattis

Trump with Barr and Meadows outside St. John's Episcopal church in Washington, D.C. on June 1. Photo: Brendan Smialowski/AFP via Getty Images

President Trump tweeted on Thursday that he would endorse "any candidate" with a pulse who runs against Sen. Lisa Murkowski (R-Alaska).

Driving the news: Murkowski said on Thursday that she supported former defense secretary James Mattis' condemnation of Trump over his response to protests in the wake of George Floyd's killing. She described Mattis' statement as "true, honest, necessary and overdue," Politico's Andrew Desiderio reports.

9 hours ago - World

The president vs. the Pentagon

Trump visits Mattis and the Pentagon in 2018. Photo: Brendan Smialowski/AFP via Getty

Over the course of just a few hours, President Trump was rebuffed by the Secretary of Defense over his call for troops in the streets and accused by James Mattis, his former Pentagon chief, of trampling the Constitution for political gain.

Why it matters: Current and former leaders of the U.S. military are drawing a line over Trump's demand for a militarized response to the protests and unrest that have swept the country over the killing of George Floyd by police.

New York Times says Tom Cotton op-ed did not meet standards

Photo: Avalon/Universal Images Group via Getty Images)

A New York Times spokesperson said in a statement Thursday that the paper will be changing its editorial board processes after a Wednesday op-ed by Sen. Tom Cotton (R-Ark.), which called for President Trump to "send in the troops" in order to quell violent protests, failed to meet its standards.

Why it matters: The shift comes after Times employees began a coordinated movement on social media on Wednesday and Thursday that argued that publishing the op-ed put black staff in danger. Cotton wrote that Trump should invoke the Insurrection Act in order to deploy the U.S. military against rioters that have overwhelmed police forces in cities across the country.