Clubhouse
Clubhouse

Clubhouse a Live-audio chat app reportedly closes news series C funding round at a $4 billion valuation

The invite only based audio chat app “Clubhouse” has taken over the internet like a storm and the app has seen popularity after the important figures like Elon Musk and Facebook founder Mark Zuckerberg have appreciated them.

This evening, Reuters just reported that Clubhouse has closed a new Series C round of financing, the company said during its weekly town hall on Sunday, without disclosing the amount raised. Now, a source familiar with the matter confirmed to Reuters that the new financing would value the company at $4 billion. The new round of financing was led by Andrew Chen of venture capital firm Andreessen Horowitz with major investors like DST Global, Tiger Global, and Elad Gil.

Clubhouse was founded in March 2020 by Paul Davison and Rohan Seth. Just two months later, the app was already valued at around $100 million despite having just 1,500 users at the time. The clubhouse’s still in beta but Silicon Valley is already going crazy because celebrities and high-profile venture capitalists are promoting it. According to mobile data and analytics firm App Annie, the Clubhouse app has been downloaded 12.7 million times.

Unlike other popular social platforms like Facebook, Snapchat, Instagram, Clubhouse is built on exclusivity. So you need to have a solid reputation before you are allowed to join.