Twitter reportedly held talks about buying a clubhouse for $ 4 billion

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  • Twitter was in talks to buy Clubhouse for $ 4 billion, Bloomberg reported.
  • “We do not comment on rumors or speculations,” a Twitter spokesman told Insider.
  • Clubhouse had been downloaded 11.4 million times as of March 1st.
  • Check out Insider’s business page for more stories.

Twitter might be interested in buying Clubhouse.

Bloomberg reported that the social media platform had had talks “in recent months” about buying Clubhouse for $ 4 billion, but the discussions petered out for reasons unknown.

“We do not comment on rumors or speculations,” a Twitter spokesman told Insider. Clubhouse was not immediately available for comment.

Continue reading: Clubhouse co-founder Paul Davison had another successful social app in 2011. He explains why it failed.

Clubhouse, an invite-only social media app that allows users to participate in and host audio calls, is in talks for a funding round that Company valued at $ 4 billion, per Bloomberg. The startup has raised $ 110 million in funding as of Jan. 24, giving it a valuation of up to $ 1.4 billion.

The clubhouse’s popularity has increased shot up this year. According to App Annie, the app had been downloaded 11.4 million times as of March 1, compared to 3.5 million in the previous month. The app attracted high profile users like Paris Hilton, Oprah Winfrey, and Mark Cuban.

Twitter reported promising yields in February 2021, announcing that the company had increased user numbers by 27% to 192 million by the end of 2020. The platform made the controversial decision suspend permanently former President Donald Trump for his involvement in inciting violence during the January 6th Capitol Rising.

The San Francisco-based company recently decided to acquire the email newsletter company Revue and to kill the live streaming app Periscope, purchased in 2015.

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