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[ ] [Image]( EMAIL}/redirect Greetings Subscribers, Your reservation is booked Airbnb might be losing all of its bookings, but it’s still got the interest of investors. The home-away-from-home booking site is set to close a [$1B investment]( from Silver Lake and Sixth Street Partners. The valuation of couch surfing's younger cousin wasn’t disclosed, but it’s certainly less than the $31B valuation following an investment back in 2017. In fact, Airbnb internally valued itself at $26B in early March. It's probably safe to assume that Silver Lake and Sixth Street bent Airbnb over a barrel. Thanks, COVID. Coronavirus has also derailed the company’s plan to go public. Airbnb wanted to IPO early this year, but as of now, it sounds like late 2020 is the best case scenario. For the greater good Airbnb will use the injection to support longer-term rental opportunities while backing property owners within its ecosystem. At least $5M of the new investment will be added to a relief fund to support hosts needing financial relief. Read: bribing hosts not to go to Vrbo when shelter in place is lifted. EMAIL}/redirect --------------------------------------------------------------- EMAIL}/redirect It could be worse Airbnb scoring a bailout is a W for CEO Brian Chesky and team. Even if it is a [down-round]( Hotel and hospitality businesses have been absolutely ravaged by COVID-19 cutbacks. Marriott and Booking Holdings stocks alone have [fallen]( 53% and 34% this year, respectively. The bottom line... It’s not the hand you’re dealt, but how you play it... as they say. Despite the current state of affairs, Airbnb, in true scrappy startup fashion, is ready to adapt and overcome. The company is using at least part of the tres-comma cash infusion to focus on diversifying its business model. Specifically, the company is looking at [longer-term stays]( aimed at students and workers on remote assignments. EMAIL}/redirect --------------------------------------------------------------- EMAIL}/redirect ☑️ Cruisin’. Carnival cruise lines shares rose more than 20% yesterday thanks to Saudi Arabia’s sovereign wealth fund announcing that it scooped up 8.2% of the beleaguered company’s public shares. The Public Investment Fund [purchased 43.51M shares]( (valued at $369.4M) after the stock price cratered thanks to coronavirus concerns. Despite the obvious risk associated with the company and industry (see: Diamond Princess), PIF felt the bargain basement price was too good to pass up. In fact, the Saudi fund also took stakes in Uber, Tesla, and Penske at what it hopes is a steep discount. With the current oil outlook, why not diversify? ☑️ All the way up. Shares of online furniture retailer, Wayfair (try not to say "you got just what I need"), [surged 37% Tuesday]( after it announced that sales growth doubled in March to near;y 40% thanks to people decorating their new home offices and getting ready for spring. New throw pillows always help me feel better in times of crisis. The increase in sales doesn’t change the fact that Wayfair isn’t profitable, nor does it have positive cash flow. But what it lacks in financial stability, it makes up for in [Kelly Clarkson ad spots.]( ☑️ Fed of a deal. The Federal Reserve revealed a plan [to finance loans]( given out by banks and other lenders as part of the $350B allocated to small businesses under the stimulus package signed last month. Things hit a bit of a snag on Friday as some of the biggest lenders said they couldn’t process loan applications due to balance sheet constraints. Having the Fed backing loans gives the lenders relief on their own balance sheets, and allows them to issue more loans. Jerry Interest Rates to the rescue. ☑️ Coffee stain. Luckin Coffee is having an April to forget. An entity held by its Executive Chairman, Charles Zhengyao Lu [defaulted on a margin loan]( worth $518M after Luckin’s stock price cratered 80% last week when it was revealed that roughly half of its total sales for 2019 were falsified. Rounding error. The loan, provided by various banks who chose to remain nameless, was secured (I use that term lightly) by Luckin shares. As a result, Lu and CEO Jenny Zhiya Qian had to fork over 76.3M depository shares that were put up for sale by Goldman Sachs who will act as the "disposal agent." The shares were worth $410M as of last Friday but the number keeps dropping along with the company’s share price.The dregs, apparently. The banks who lent the money in the first place stand to lose more than $100M... 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