Twitter Negotiated Takeover Of Clubhouse For About $4Bln - Reports

Twitter Negotiated Takeover of Clubhouse for About $4Bln - Reports

MOSCOW (UrduPoint News / Sputnik - 08th April, 2021) US company Twitter held negotiations in recent months to acquire new audio-based social platform Clubhouse for about $4 billion, Bloomberg reported, citing informed sources.

According to the media outlet, the negotiations are currently stalled for an unknown reason. Both Twitter and Clubhouse representatives have not provided comments on this information.

In late 2020, Twitter launched its own live audio chats service dubbed Spaces for Android users. In March, Twitter officially announced the launch of a beta version of Spaces.

Clubhouse app works as a social networking platform that allows audio communication within exclusive groups but restricts recording or further spread of content. It was first launched in 2020, but started gaining popularity at the beginning of 2021. Clubhouse now has around 10 million weekly active users, up from 600,000 in December 2020. It is the current leader in the "social audio" market and it still remains both invite-only and iOS-only platform.