The audio-based social media startup Clubhouse announced Sunday it had secured an undisclosed amount of funding in a Series C round led by existing investor Andrew Chen, of Andressen Horowitz, as it looks to scale up in face of rising competition. What Happened: Clubhouse named DST Global, Tiger Global Management, and Elad Gil as investors who participated in the funding round, which according to a Reuters report, values the company at $4 billion. Bloomberg News had earlier this month reported that the startup is looking to raise fresh money at a $4 billion valuation. The fresh funding comes just three months after its previous funding and amid a growing interest of rivals in launching a similar product. See Also: Twitter Looked To Acquire Clubhouse In $4B Deal: Report Facebook Inc (NASDAQ: FB) will on Monday announce a suite of new audio products, including its own take on Clubhouse, as well as a push into podcasts aided by Spotify Technology S.A. (NYSE: SPOT), according to a Recode report. The San Francisco-based Clubhouse allows app users to host their own online podcast shows. Listeners can tune in to hear interviews or discussions on a range of subjects and also participate in live discussions. It has recently introduced a…
Read More
Clubhouse Said To Get $4B Valuation In Latest Funding As Rivals Inch Closer
