On Dec 10, 2020, amidst a pandemic, Airbnb held its IPO and raised $2.6 billion.In 2015, Airbnb raised $1.5 bilion in one of the largest private placements at the time.

Why did Airbnb invite insurance companies and pension fund investment firms to participate in its 2015 private placement?

a. Because the amount of funds needed by Airbnb were insufficient to issue an IPO

b. Because Airbnb customers can use services provided by insurance companies and pension fund firms

c. Because they are a major source of short- and long-term financing for business

d. Because customers of insurance companies and pension fund firms can use services provided by Airbnb