Vancouver’s audio chat app Clubhouse racks up $4bn valuation after new funding round



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Vancouver’s audio chat app Clubhouse racks up $4bn valuation after new funding round

Audio chat app Clubhouse, owned by Vancouver, Canada-based Alpha Exploration Co. which offers an invitation-only iOS platform to facilitate live auditory communication through chat rooms that could house up to 5,000 people, said during its weekly town hall on Sunday that the application had recently winded down a Series C funding round, but the statement did not disclose the amount it had raised, however, people familiar with the transaction said late in the day that the new financing would likely to value the app more than $4 billion.

Aside from that, the social media app which had been brought into existence back in the April of 2020, had added in the statement that a venture capitalist, Andrew Chen, of investment firm Andreessen Horowitz had led its latest fundraising campaign alongside deep-pocket investors such as DST Global, Tiger Global alongside Elad Gil.

Nonetheless, while being asked about the amount the social media app had raised on its latest funding round, neither Clubhouse-parent Alpha Exploration Inc. nor Andreessen Horowitz had agreed to comment on the subject-matter.

Latest Clubhouse funding values the audio chat app more than $4 billion

In point of fact, latest fundraising campaign of Vancouver-based Clubhouse, which enables people to communicate through audio chat rooms and to discuss wide-ranging topics, helping arrange low-cost conferences that could host as many as 5,000 people at the same time in a pandemic-era new normalcy, came forth amid a soaring popularity of audio chat services, as people staying indoor turn online via several social media platforms to communicate, while a Bloomberg news report published earlier this month was quoted unnamed sources as saying that the social networking megalith, Twitter Inc., had been in talks to purchase the audio app at a market valuation of $4 billion.