Twitter held talks in recent months to acquire Clubhouse, the audio-based social network, people familiar with the matter told Bloomberg. The companies discussed a potential valuation of around USD 4 billion for Clubhouse, the report said. Discussions are no longer ongoing, and it’s unclear why they stalled, the sources said.
Bloomberg reported earlier this week that Clubhouse was in talks to raise funding from investors in a round valuing the business at about USD 4 billion. After the talks with Twitter failed to proceed, Clubhouse began to explore whether it made sense to raise financing at that valuation instead.
The Clubhouse app lets users host their own online radio shows. Listeners can tune in to hear interviews or panel discussions and ask to participate in live chats. While the company is barely a year old, it's already drawing attentions from the major social networks, which are considering offering their own versions of a similar service.
Twitter’s Clubhouse competitor, called Spaces, launched in late 2020, though it’s still in beta form and not all users can create or host public discussions. At a press event on 07 April, Twitter head of revenue product Bruce Falck said the company is considering ways to monetize Spaces, but those discussions are still in the very early stages.
