Twitter in discussion to takeover Clubhouse for $4 Billion

Twitter in discussion to takeover Clubhouse for $4 Billion
Twitter in discussion to takeover Clubhouse for $4 Billion

Twitter is already working on a rival to Clubhouse, the popular social audio app, and has reportedly considered buying the business outright. According to Bloomberg, Twitter has been in talks with Clubhouse about buying the app for about $4 billion.

The companies addressed valuing Clubhouse at around $4 billion, according to the people, who asked not to be named because the matter is private. The talks are no longer going on, and it’s unclear why they came to a halt, according to the sources.

Last year, Clubhouse debuted and popularised the concept of hosting live audio conversations. Since then, celebrities, tech CEOs, and everyday people have tuned in and hosted spaces. The software, which is officially invite-only and iOS-only, has reportedly been downloaded by more than 10 million users.

Also Read: Clubhouse launches payments so creators can make money.

Facebook, Twitter, Discord, LinkedIn, and Slack are only a few of the apps that compete with it. These other channels also have millions of users and fully functional network, iOS, and Android apps. Despite this, Clubhouse is attempting to innovate at a rapid pace. In recent months, it has increased its workforce and recruited an engineer to work on its Android app. It also introduced tipping inside the app this week as a way for developers to earn money(It claims it would not take a share of the revenue).

Twitter Spaces, on the other hand, is also available on iOS and Android. This month, the company also plans to launch a web edition and make hosting capabilities available to all users. It’s unclear why Twitter would want to buy Clubhouse, unless it actually wanted to eliminate the competition and gain access to its loyal user base and buzzy brand. In any case, Clubhouse and Twitter will continue to compete in the fight for social audio dominance.

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