Clubhouse closes new Series C funding round at reportedly $4 billion valuation

Rising voice-chat app Clubhouse has announced that it closed a new Series C funding round, which would value the company at $4 billion according to people close to the company.

While the company didn’t disclose the amount it raised, sources told Bloomberg last week that Clubhouse was in talks to raise funds at a $4 billion valuation. 

The company said the financing round was led by Andrew Chen at a16z and its major investors include DST Global, Tiger Global, and Elad Gil. 

‘’This will allow us to heavily scale our team to support international growth, invest in localization and accessibility features, launch more programs like the Creator First accelerator to help creators get paid, invest deeply in discovery to help people find the best rooms, and continue to scale our support and community health teams.’’ said the company in an official statement. 

Also Read: Clubhouse announces accelerator program for creators

The quick global success of Clubhouse has attracted the attention of other tech companies in the industry as the app has managed to generate millions of downloads in such a short amount of time. 

In the previous weeks, Bloomberg reported that Twitter held talks in the last months to acquire Clubhouse for $4 billion. However, the talks came to an end due to unknown reasons. The social media platform started rolling out its Clubhouse-like feature Spaces in March and is now reportedly developing a new feature named Tip Jar to monetize Spaces. 

Meanwhile, other companies including Facebook, Telegram,  LinkedIn, ByteDance and Discord are working on Clubhouse-like voice-chat features. 

Also Read: Everything you need to know about Clubhouse app

Earlier this month, Clubhouse started testing its Payments feature to allow the creators on its platform to earn money from their streams. Last week, the company opened access to the feature for over 60K creators.