Twitter said it would hold discussions about the $ 4 billion takeover of the Clubhouse

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In recent months, Twitter has been talking about acquiring Clubhouse, the noisy audio-based social network, according to people familiar with the matter.

The companies discussed a potential estimate of about $ 4 billion (approximately 29,740 kroner) for Club house, said people asking not to be identified because the matter is private. Discussions are no longer ongoing and it is not clear why they are stagnant, people added.

A Twitter a spokesman declined to comment. A Clubhouse representative did not immediately respond to a request for comment.

Bloomberg News reported earlier this week that Clubhouse is in talks to raise funding from investors in a circle valuing the business at about $ 4 billion (approximately 29,740 crores). After talks with Twitter did not continue, Clubhouse began to explore whether it made sense instead to raise funding for this assessment. 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.

Clubhouse is only a year old, but has appearances from some of the biggest names in business and Hollywood. Well-established social media companies quickly began working on their own versions of Clubhouse, including Twitter. Facebook explores both one, and Microsoft’s LinkedIn and Relaxed they also said they are working on similar features for their networks.

Twitter shares rose about 3 percent on Wednesday, giving the San Francisco-based company a market value of $ 55.1 billion (approximately 4,099,760 kroner).

A competitor to Clubhouse on Twitter, called Spaces, launched in late 2020, although still in beta and not all users can create or organize public discussions. CEO Jack Dorsey enjoys the potential of audio as a new way for people to interact on Twitter and the company has long relied on live content through affiliate deals and acquisitions. At a news conference Wednesday, Twitter’s product revenue chief Bruce Falk said the company was considering ways to monetize Spaces, but those discussions were still at a very early stage.

“With the help of Ellen Huet.”

© 2021 Bloomberg LP

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