- Twitter held talks to buy Clubhouse for $4 billion, Bloomberg reported.
- “We don’t comment on rumors or speculation,” a Twitter spokesperson told Insider.
- Clubhouse has been downloaded 11.4 million times as of March 1.
- See more stories on Insider’s business page.
Twitter might be interested in buying Clubhouse.
Bloomberg reported the social media platform held talks “in recent months” to buy Clubhouse for $4 billion, but the discussions have fizzled out for unknown reasons.
“We don’t comment on rumors or speculation,” a Twitter spokesperson told Insider. Clubhouse was not immediately available for comment.
Clubhouse, an invite-only social media app that lets users join and host audio talks, is in talks for a funding round that would value the company at $4 billion, per Bloomberg. The startup has raised $110 million in funding as of January 24, giving it a valuation of up to $1.4 billion.
Clubhouse’s popularity has skyrocketed this year. The app had been downloaded 11.4 million times as of March 1, according to App Annie, up from 3.5 million the month prior. The app attracted high-profile users like Paris Hilton, Oprah Winfrey, and Mark Cuban.
Twitter reported promising earnings in February 2021 and announced the firm increased user count 27% to 192 million at the end of 2020. The platform made the contentious decision to permanently suspend former president Donald Trump due to his part in inciting violence during the January 6 Capitol uprising.