The famous audio-chat app, Clubhouse has reportedly closed a new Series C round of funding, the company announced during its weekly town hall on Sunday, without revealing the actual amount raised. However, a reliable source has confirmed that the latest investment would value the firm at $4 billion.

According to the Clubhouse, the new round of funding was directed by Andrew Chen of venture capital firm Andreessen Horowitz with notable investors like DST Global, Tiger Global, and Elad Gil. The financing comes as Twitter, Spotify, Facebook, Telegram, Discord, and LinkedIn are all exploring similar features to Clubhouse’s live audio streaming rooms, which has drawn attention for hosting live chats with the likes of Elon Musk and Mark Zuckerberg.

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However, unusually for such a late stage of financing, the firm has not disclosed the amount raised. According to the industry sources, this is probably due to the Series C funding round being multi-stage and therefore not officially closed. Alternatively, the corporation is ‘hyping’ itself ahead of a sale, as is usually the case with ‘hot’ startups.

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Furthermore, the San Francisco-based company, whose app enables people to address various topics in audio chatrooms, has observed its popularity increase after appearances by billionaires Elon Musk and Mark Zuckerberg. The progress of the invite-only, year-old platform, which recently proclaimed 10 million weekly active users, has illustrated the potential of audio chat services, especially as people stay inside homes due to the COVID-19 pandemic. Moreover, earlier this month, Twitter Inc was in talks to acquire an audio app at a $4 billion valuation.

In addition to it, CEO Paul Davison announced in late March that Clubhouse could arrive on Android by summer and might discard its invite-only access. The app has also started allowing users to send money directly to creators through a partnership with payments company Stripe.

Source: TechCrunch

Image Source: Business Insider


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