Buzzy’ social audio’ app Clubhouse has raised a Series C funding round, supposedly quality the company at$ 4 billion. Clubhouse said the new round of financing was led by Andrew Chen of Andreessen Horowitz, with participation from DST Global, Tiger Global and Elad Gil. This round signifies Clubhouse has tripled the valuation it attained in January when Andreessen Horowitz guided its Series B funding round.
The funding comes as Twitter, Spotify, Facebook, Telegram, Discord and LinkedIn are all prepping same pieces to Clubhouse’s live audio streaming areas, which has attracted attention for hosting live conversations with the likes of Elon Musk and Mark Zuckerberg. Indeed, Vox reported that Facebook will announce a series of’ social audio’ concoctions merely today.
But, uncommonly for such a late stagecoach for financing, the company has not disclosed the amount heightened. Industry beginnings say that this is probably because the Series C funding round is’ multi-stage’ and therefore not officially closed. Alternatively, the company is’ hyping’ itself ahead of a sale, as is often the case with’ red-hot’ startups. Twitter apparently end off talks to acquire the startup at a$ 4 billion valuation, according to Bloomberg.
And despite looks that this funding round has been occasioned to coincide with the launch this week of Facebook’s Clubhouse clone, one well-placed source told me “this funding round has been in the works for the last 1.5 months” and that some proposals have been” above 2x” the$ 4bn valuation. On other utterances, there are some investors out there who picture Clubhouse is worth more than$ 8bn.
So far Clubhouse is demurring on all this, and lessening to comment more directly to the media. The fellowship disclosed the information about the funding during its weekly’ town hall’ chat last Sunday night and in a blog post, the company said the fundraising will support a fresh burst of emergence for the app.
“While we’ve quadrupled the size of our team this year, stabilized our infrastructure, launched Pays in beta to help makes monetize, and readied Android for propel, there is so much more to do as we work to bring Clubhouse to more beings around the world. It’s no secret that our servers have striven a little these past few months, and that our emergence has outpaced the early disclosure algorithms our small team initially constructed, ” said the post.
Noting that “it’s important to us to be building all of this with people who are invested in the community and who represent a diverse place of backgrounds and spokespeople, ” Clubhouse has, nonetheless, been struck by a motion of troubles in the last few days, when Anti-Semitic audio rooms seemed to proliferate on the platform. Clubhouse has previously been criticized for its sound inability to moderate extremism on the app.
The year-old platform, which has reported 10 million weekly active useds, has flourished during the course of its pandemic while parties were locked down and therefore unable to chat readily in person.
Tech news site The Information first reported details on the Clubhouse funding on Friday.
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