The social network Twitter was in talks with Clubhouse to acquire the application for $4 billion. The audio-based social network plans to receive the same estimate during a new round of investments.
Clubhouse is a social network founded by former Google developers Paul Davison and Rohan Seth. The application is based on voice communication. The service does not support other formats. The peak of the app's popularity was observed in February 2021.
Twitter has been negotiating for several months to buy the popular audio-based social media platform for $4 billion. Purchase discussions are no longer ongoing, and the reason for their termination is unknown. A Twitter spokesman declined to comment on the matter, and Clubhouse did not comment on the news as well.
Clubhouse plans to attract funding from investors with a valuation of $4 billion. There is still no information as to how much investment Clubhouse wants to draw in the new round and who will participate in it. In January, Clubhouse raised funding from Andreessen Horowitz, a private American venture capital firm, which is its lead investor. The parties did not disclose the sum of investments.
Due to the rapid popularity of Clubhouse, many large companies began implementing similar features on their platforms. This way, Twitter is already testing a Clubhouse-like Spaces feature on Android, LinkedIn recently announced that he the company is also working on such functionality, Discord launched the Stages audio feature, and Telegram even improved the idea of an audio format by allowing more people to participate in audio sessions.