- Audio-based social media company Clubhouse announced it has closed a new Series C round of funding at a reported $4 billion valuation. These are the details.
Audio-based social media company Clubhouse announced it has closed a new Series C round of funding at a reported $4 billion valuation, according to Reuters’ sources. This round of funding was led by Andrew Chen of Andreessen Horowitz with major investors like DST Global, Tiger Global, and Elad Gil.
Even though Clubhouse is about a year old, it gained traction very quickly. Tesla and SpaceX CEO Elon Musk and Facebook CEO and co-founder Mark Zuckerberg both participated in audio discussions on Clubhouse. Recently, Clubhouse reported 10 million weekly users. Twitter deployed a feature that is similar to Clubhouse into its app called Spaces. And rumor has it that Facebook, Slack, LinkedIn, and Spotify are also creating features that are similar to Clubhouse as well.
Twitter reportedly made a deal to buy out Clubhouse. But a potential deal fell through.
“This will allow us to heavily scale our team to support international growth, invest in localization and accessibility features, launch more programs like the Creator First accelerator to help creators get paid, invest deeply in discovery to help people find the best rooms, and continue to scale our support and community health teams,” said Clubhouse in a blog post.
Clubhouse was co-founded by Paul Davison and Rohan Seth of Alpha Exploration Co. The app was originally designed for podcasts under the name Talkshow. It was rebranded to Clubhouse in March 2020.