Clubhouse, an invite-only iPhone app based around audio rather than visual posts, has reached 1 billion dollar evaluation in less than twelve months at the start of this year.
The social app was launched in March 2020 by Paul Davison and Rohan Seth, and is described as “a space for casual, drop-in audio conversations – with friends and other interesting people around the world”.
Posted in a blog post in January 24, “the app has accelerated quickly over the past ten months – from a small handful of beta testers into a diverse and growing network of communities”.
Davison and Seth also confirmed in the blog post that they have acquired a new round of funding, but did not state the value. They did reveal, however, the Clubhouse has garnered 180 investors at the time the blog post was published.
Two million people have already used the app worldwide last January, including “musicians, scientists, creators, athletes, comedians, parents, entrepreneurs, stock traders, non-profit leaders, authors, artists, real estate agents, sports fans and more”.
Clubhouse has become the new social media star in just a few months. Live audio features and platforms have garnered a lot of interest in the tech community. The company now wants to raise more money, which should help it stay ahead of the competition.
In a report, Clubhouse wants to start a new funding round, with the firm valued a t $4 billion. The platform’s founders plan to use the new funds “to make the product better each day and to help creators on Clubhouse thrive.” The new round might quadruple the net worth of the company.
To obtain that, they plan to launch tests in the coming months that will see creators get paid directly via the likes of tipping, ticketing or subscription fees.
“Creators are the lifeblood of Clubhouse, and we want to make sure that all of the amazing people who host conversations for others are getting recognized for their contributions,” said Clubhouse co-founders Paul Davison and Rohan Seth in a statement.
“Over the next few months, we plan to launch our first tests to allow creators to get paid directly—through features like tipping, tickets or subscriptions.
“We will also be using a portion of the new funding round to roll out a Creator Grant Program to support emerging Clubhouse creators.”
The report also noted that it’s not exactly clear how much money the company wants to raise right now, which means the terms of the deal and final valuation could change.
Clubhouse is confronted by a stiff competition with other tech companies that are trying to integrate live audio into their platforms.
Twitter’s Spaces feature is now available to many users, and it has desires to expand to desktop, too. Last month, Discord launched a real-time audio chat feature. LinkedIn and Slack have stated that they’re developing something similar.
Moreover, Spotify acquired Locker Room, a live conversation app for discussing sports last month. Meanwhile, Facebook is also reportedly working on an app similar to Clubhouse.