default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Twitter Held Discussions for $4 Billion Takeover of Clubhouse

Twitter. Shutterstock.

Twitter Inc. held talks in recent months to acquire Clubhouse, the buzzy audio-based social network, according to people familiar with the matter.

The companies discussed a potential valuation of roughly $4 billion for Clubhouse, the people said, asking not to be identified because the matter is private. Discussions are no longer ongoing, and it’s unclear why they stalled, the people added.

A Twitter spokesman declined to comment. A Clubhouse representative didn’t 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 round valuing the business at about $4 billion. After the talks with Twitter failed to proceed, Clubhouse began to explore whether it made sense to raise financing at that valuation instead. The app lets users 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 barely a year old but has drawn appearances from some of the biggest names in business and Hollywood. Established social media companies have quickly gone to work on their own versions of Clubhouse, including Twitter. Facebook Inc. is exploring one, too, and Microsoft Corp.’s LinkedIn and Slack Technologies Inc. have also said they’re working on similar features for their networks.

Twitter shares were up about 3 percent on Wednesday, giving the San Francisco-based company a market value of $55.1 billion.

Twitter’s Clubhouse competitor, called Spaces, launched in late 2020, though it’s still in beta form and not all users can create or host public discussions. Chief Executive Officer Jack Dorsey is bullish on the potential for audio as a new way for people to interact on Twitter, and the company has long bet on live content through partnership deals and acquisitions. At a press event on Wednesday, Twitter head of revenue product Bruce Falck said the company is considering ways to monetise Spaces, but those discussions are still in the very early stages.

By Scott Deveau, Kurt Wagner, and Katie Roof


In This Article

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Technology
How is technology disrupting and creating new opportunity?

Before fashion businesses can put artificial intelligence to work or target the right shoppers online, they need good data and a deep understanding of who their customers are and what they want. This case study offers a guide for brands that want to truly know their customer, allowing them to make smarter decisions that serve shoppers and drive results.



BoF welcomed business leaders, technologists and creative innovators to share their insights on how the fashion industry can navigate new frontiers in AI, shifts in digital culture and advancements in immersive technologies. Watch on-demand now.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections