Deals
Airbnb-Backed Zeus’s Value Is Halved in New Funding Round
- Housing startup raises $15 million at about $110 million value
- Raised new money from backers CEAS, Initialized and Soros
This article is for subscribers only.
A corporate-housing startup backed by Airbnb Inc. has raised money at roughly half the valuation it commanded five months ago, as the coronavirus pandemic ravages the lodging industry.
Zeus Living Inc. raised about $15 million in equity and debt at a valuation of about $110 million from existing investors CEAS Investments I, Initialized Capital Management and Soros Fund Management, according to people familiar with the matter. It was worth about $205 million in a funding round in December, said the people, who asked to not be identified because the matter isn’t public.