The Strategist

Clubhouse valued at $4bn in new funding round


04/19/2021 - 04:19



Voice social network Clubhouse has closed a new round of fundraising that valued it at $4bn, led by Andrew Chen of venture capital firm Andreessen Horowitz with major new investors such as DST Global, Tiger Global and Elad Gil.



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Voice communication app Clubhouse has announced the completion of a new funding round. The company did not disclose the amount raised, but a source familiar with the outcome told Reuters that investors valued Clubhouse at $4bn. 

Clubhouse's corporate blog reports that the round was led by Andrew Chen of venture capital firm Andreessen Horowitz with major new investors such as DST Global, Tiger Global Management and angel investor Elad Gil. The company has clarified that the funds raised will be used to hire employees, develop the audio app outside the US and pay for presenters and content creators to host conversations on the voice social network.  Clubhouse and Andreessen Horowitz did not respond to queries from Reuters. 

Bloomberg wrote about Clubhouse's $4 billion valuation on April 8, citing interlocutors familiar with Twitter's negotiations for a possible acquisition of the voice social network Clubhouse. After talks with Twitter were unsuccessful, Clubhouse began exploring whether it made sense to raise funding at that valuation. A day earlier, on April 7, sources told Bloomberg that Clubhouse was negotiating an investment round that could value the app at around $4 billion. The company's valuation has quadrupled since January.

source: bloomberg.com




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