Since Clubhouse became the new social media darling in just a few short months, live audio features and platforms have garnered a lot of interest in the tech community. The company now wants to raise more money, which should help it stay ahead of the competition.
According to a report from Bloomberg, Clubhouse wants to start new funding round, with the firm valued at $4 billion.
In January, the live audio platform raised $100 million in funding led by Andreessen Horowitz;the VC giant had valued the app at $1 billion at that time. The new round might quadruple the net worth of the company.
Bloomberg noted that it’s not clear how much money the company wants to raise at the moment, so terms of the deal and final valuation could change.
Clubhouse is facing heated competition from tech companies who are trying to integrate live audio into their platforms. Twitter‘s Spaces feature is already available to many users, and it has ambitions to expand to desktop too.
Discord launched a real-time audio chat feature last month, and LinkedIn and Slack have said they’re building something on similar lines. Last month, Spotify acquired Locker Room, a live conversation apps for discussing Sports, and aims to introduce new experiences in its app. Meanwhile, Facebook is reportedly working on a Clubhouse-like product too.
Amid all this live audio frenzy, Clubhouse might want to solidify its position as the pioneer of the field, and roll out unique features to retain and grow its users. Earlier this week, the company launched a payments feature that lets you send money to creators you like.