Clubhouse is reportedly in talks to raise funding in a round that values the audio app at $4 billion just a year after it launched
- Clubhouse is looking at a funding round that would value the app at $4 billion, Bloomberg reported.
- The audio-only app, which launched in March 2020, was valued at around $1 billion in January.
- Clubhouse says that it has 10 million weekly users, and other companies are developing competitors.
Clubhouse is in talks to raise funding in a round with a $4 billion valuation just over a year after the audio app launched, Bloomberg reported Tuesday, citing people familiar with the matter.
This is up to four times the valuation Clubhouse achieved in January.
The sources told Bloomberg that the terms of the round could still change, and the publication said it was unclear how much funding Clubhouse was seeking. Andreessen Horowitz has previously invested in the app.
Clubhouse did not immediately respond to request for comment by Insider.
The invite-only app has boomed in popularity over the last few months. The company said in late February that it had more than 10 million active users each week, and celebrities including Paris Hilton, Oprah Winfrey, Facebook CEO Mark Zuckerberg, Tesla CEO Elon Musk, and entrepreneur Mark Cuban have all used the app.
CEO Paul Davison said in late March that Clubhouse could arrive on Android by summer and might ditch its invite-only access. The app has also begun allowing users to send money directly to creators through a partnership with payments company Stripe.
But concerns have been raised over data privacy and the spread of misinformation on the app, and other tech companies, including Twitter, Facebook, LinkedIn, and Spotify, are all working on voice-chat competitors.