Saturday , July 24 2021

Clubhouse closes new funding round valuing app at $ 4 billion source

The social audio app Clubhouse is seen on a mobile phone in this illustration photo taken February 8, 2021. REUTERS / Florence Lo / Illustration / File Photo

Audio chat app Clubhouse is closing a new Series C round of funding, the company said during its weekly town hall on Sunday, without opening the raised amount.

A source familiar with the matter confirmed to Reuters that the new financing would value the company at $ 4 billion.

The social media app said the new round of funding was led by Andrew Chen of venture capital firm Andreessen Horowitz with major investors such as DST Global, Tiger Global and Elad Gil.

Clubhouse and Andreessen Horowitz did not respond to requests for comment on the amount of funding raised.

The San Francisco-based company, whose app lets people vary over different topics in audio chat rooms, has seen its popularity after performances by billionaires Elon Musk and Mark Zuckerberg.

The success of the invite-only, year-old platform, which recently reported 10 million weekly active users, has demonstrated the potential of audio chat services, especially as people stay indoors due to the COVID-19 pandemic.

Bloomberg said earlier this month that Twitter Inc (TWTR.N) was in discussions to buy an audio app for a valuation of $ 4 billion.

Techwebsite The information first reported details on the funding on Friday.

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