- Clubhouse was being valued at $4 billion in a new funding round, The Information reported.
- VC firm Andreessen Horowitz reportedly led the round.
- The social audio app was valued at about $1 billion earlier this year.
- See more stories on Insider’s business page.
Audio-only app Clubhouse is reportedly being valued at $4 billion in a fresh round led by venture-capital firm Andreessen Horowitz.
The Information on Friday reported the fundraising round, saying it would include investments from Tiger Global Management and DST Global. Both are newcomers to Clubhouse.
The Information didn’t detail the amount the firms planned to invest. The outlet did report, however, that it was likely more than the $100 million Clubhouse raised in a previous round.
The invite-only app launched for Apple users in March 2020. Amid buzzy press coverage, it jumped to more than 10 million users, according to the company.
This month it partnered with Stripe to let users send money to creators via their profiles, perhaps signalling a way to bring in revenue.
Clubhouse has an increasing number of competitors, including clones made by social-media powerhouses Facebook and Twitter. The latter reportedly held talks with Clubhouse about a potential $4 billion buyout, Bloomberg reported this month.
The app has had its share of growing pains, including calls for greater content moderation. Last week, Cyber News reported that personal data from 1.3 million users had been scraped and posted online. A French government watchdog opened an investigation into the company, following a complaint over data privacy.
Andreessen Horowitz has previously invested in Clubhouse.
The VC firm’s Andrew Chen said he’d connected with Clubhouse cofounders Rohan Seth and Paul Davison in early 2020. At the time, the pair were working on a podcasting app called “Talkshow,” Chen wrote in a January 2021 blog post. Instead, they launched Clubhouse.
Chen said: “At the beginning, it was just a single ‘room’ where the founders hung out all the time. You could pop inside, have a great audio-only conversation with Rohan and Paul, and leave whenever you wanted.”
Clubhouse didn’t immediately return a request for comment.
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