Clubhouse Closes Series C Funding Round At A $4 billion Valuation

Audio-sharing platform Clubhouse has closed a new Series C funding round. This was revealed by the platform on its weekly Town hall on Sunday, and the amount raised in the funding round was not disclosed by the company. According to Reuters, a source confirmed that this new funding round raise the company’s value to a whopping $4 billion.

Some of the information the company was willing to disclose includes that the funding round was led by Andrew Chen of venture capital form Andreessen Horowitz and had other major investors like DST Global, Tiger Global and Elad Gil.

Clubhouse and Andreessen Horowitz did not respond to requests for how much was raised from the latest funding round.

Clubhouse went viral after the San Francisco-based company featured the likes of Mark Zuckerberg and Elon Musk on the audio-chat platform. The company which is only just a year old is one of the most successful on the basis of the time factor. The company has also seen huge rivalry as other social media platforms like Twitter, are either looking for ways to integrate an audio-chat feature or have already done so.

The success of Clubhouse is proof that audio-chat services have huge potentials; people had no choice but to be at home due to the coronavirus pandemic. Clubhouse reportedly has 10 million weekly active users. The details of Clubhouse’s funding were first reported by The Information on Friday.

Clubhouse also announced on Monday, 5^th of April that it will launch a monetization feature for creators on its platform so that they can benefit from the content they share on the platform. Clubhouse was also quick to add that is strictly for creators on its platform and that it will not benefit any money from it and has no future plans on doing so.