“Is Twitter buying ClubHouse? Is this really happening?”
Nearly every room on ClubHouse was buzzing with those questions last week Wednesday after news came out of Twitter making plans to acquire ClubHouse.
It’s no surprise by now that Twitter has been working on their own in-app audio feature Twitter Spaces. However, the news of Twitter buying ClubHouse were a complete shock to the audio app’s users.
Neither reps from ClubHouse or Twitter’s PR teams are yet to address the claims.
Clubhouse has been trying to raise funds with investors, and during those talks of which Twitter was involved and discussed a potential valuation at $4 billion. However, talks have since stalled and we don’t know why, but maybe they felt that it would be cheaper just to develop their own version. Or it could have been something else.
At this point, Clubhouse is in talks to raise funding from investors that would value the startup at about $4 billion, per Bloomberg.
Clubhouse users on Twitter's acquisition plans
While ClubHouse made a positive buzz last week announcing their monetisation plans, the app’s users weren’t too pleased with the acquisition claims.
“There is a culture of giving and connecting that ClubHouse has nurtured so well and no social networking other app has achieved such a meaningful way of connecting with people via audio.” said one user. “Twitter will ruin that.”
“Unfortunately we’re going to find ourselves in many more mournful rooms like this if Twitter’s acquisition goes ahead” said another ClubHouse user.
Twitter has been known to be late at integrating interactive features to their app.
They introduced Fleets: their version of Facebook/Instagram live in 2020 while other social networking apps have had the feature a good number of years.
The social networking app has also made it known that they’ve struggled to monetise the app in the past so perhaps the move to acquire ClubHouse was their way of capitalising on audio so who better to lead that frontier with but the most popular audio app right?
Sadly, those talks have stalled but ClubHouse’s future is still bright!