Twitter To Have Held Acquisition Talks With Clubhouse: Reports

(RTTNews) - Twitter Inc. (TWTR) reportedly held talks to buy audio-based social network Clubhouse.

According to Bloomberg, citing people familiar with the matter, Twitter discussed a potential valuation of about $4 billion for Clubhouse. However, the report says that the companies have stalled the discussions.

Bloomberg earlier this week reported that Clubhouse is in talks to raise funding from investors in a round valuing the business at about $4 billion.

Clubhouse is an invitation-only audio-chat iPhone app launched in April 2020 by Paul Davison and Rohan Seth of Alpha Exploration Co. The app allows users to host their own online radio shows. Listeners can tune in to hear interviews or panel discussions and ask to participate in live chats. As of December 2020, the app had 600,000 registered users and remained accessible only by invitation.

Clubhouse grew popular after Tesla CEO Elon Musk was interviewed by the GOOD TIME club in January 2021. On February 10, 2021, Musk tweeted that he agreed to do Clubhouse with Kanye West.

With the rising popularity of Clubhouse, several social media companies and tech companies have started working on their own versions of Clubhouse. Facebook is reportedly exploring to develop one, while Microsoft Corp.'s LinkedIn and Slack Technologies Inc. are also said to be working on similar features for their networks.