AUSTIN, Texas — Airbnb Inc. has added its first accredited investor to its advisory board, according to the company’s website.
Nio Capital, a New York-based venture capital firm that has invested in some of the world-famous tech companies including Uber Technologies Inc., Facebook Inc. and LinkedIn Corp., will invest $1.6 million in the San Francisco-based company.
The investment will help Airbnb expand into emerging markets and build the network of people it needs to expand beyond its base in the U.S., according to Airbnb.
Nao Capital has been working with Airbnb on building out the company and has a track record of investing in technology startups.
The investment will come as Airbnb expands into Asia, Africa and Latin America.
Airbnb is also adding more than 50 million members in the Asia-Pacific region, with the goal of reaching 100 million by 2020.