Finance

Clubhouse closes new round of funding that would value app at $4 billion – source By Reuters

© Reuters. FILE PHOTO: Illustration picture of social audio app Clubhouse

By Elizabeth Culliford

(Reuters) – Audio-chat app Clubhouse closed a new Series C round of financing, the company said during its weekly town hall on Sunday, without disclosing the amount raised.

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 financing was led by Andrew Chen of venture capital firm Andreessen Horowitz with major investors like DST Global, Tiger Global and Elad Gil.

Clubhouse and Andreessen Horowitz did not respond to requests for how much the funding round raised.

The San Francisco-based company, whose app allows people to discuss varied topics in audio chatrooms, has seen its popularity surge after appearances 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, particularly as people stay inside homes due to the COVID-19 pandemic.

Bloomberg earlier this month said Twitter Inc (NYSE:) was in discussions to buy audio app at a $4 billion valuation.

Tech website The Information first reported details on the funding on Friday.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button