Airbnb charts solo path in China after turning down merger offer

Airbnb charts solo path in China after turning down merger offer

Airbnb CEO Brian Chesky. Photographer: David Paul Morris/Bloomberg

Airbnb Inc.’s founders were moments away from merging their China business with local competitor Tujia in January 2017. Executives and investors spent hours hashing out a deal. Preliminary term sheets were drawn up. Then in the final hour of negotiations, Airbnb pulled out.

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