The Alphabet-backed short-term accommodation portal has internally trimmed its valuation from $31bn amidst Covid-19 restrictions as it fields investor interest.

US-based short-term accommodation marketplace Airbnb, which counts internet and technology conglomerate Alphabet as an investor, has reduced its internal valuation from $31bn to $26bn, the Financial Times reported on Friday.

Airbnb’s online platform enables users to rent our rooms or entire properties to each other for short-term stays and has also branched out into offering local activities and attractions, taking a slice of the payment each time.

The company has raised a total of $3.4bn having most recently received…

Robert Lavine

Robert Lavine is special features editor for Global Venturing.