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Twitter Held Talks to Acquire Clubhouse for $4 Billion: Report

A while ago Clubhouse was seeking to raise a new round of funding at a valuation of around $4 billion.

Published
Tech and Auto
1 min read
Clubhouse is a voice-based app which is only available for iPhone users.
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Microblogging site Twitter reportedly held talks with invite-only audio based platform Clubhouse for a potential acquisition. The deal is currently valued at USD 4 billion, according to Bloomberg.

However, according to the report, the companies were in talks over the past several months, but stopped engaging until recently. The report doesn’t mention any reason why the talks haven’t resumed.

Clubhouse iOS application has become wildly famous after Billionaire and SpaceX founder Elon Musk hosted an audio chat with Robinhood CEO sorting clarification regarding halting the GameStop trading on its platform.

More than 10 million people have downloaded the app, which is currently invite-only and iOS-only.

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The report further suggests that a while ago Clubhouse was seeking to raise a new round of funding at a valuation of around $4 billion. Meanwhile, Twitter in March launched its own audio based platform called Spaces. This platform enables users to join, listen, and host-moderated audio conversations.

Recently, Clubhouse monetised its platform enabling users to send direct payments to other creators on the platform. Interestingly, this monetisation effort does not provide the platform with any money, a report by TechCrunch revealed.

Earlier, in January, Clubhouse raised a new funding led by existing investor Andreessen Horowitz. The $100 million round values the company at $1 billion.

(With inputs from Bloomberg)

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