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Clubhouse, a San Francisco-based audio social network, has raised around $ 100 million under the leadership of existing investor Andreessen Horowitz for a post-money valuation of $ 1 billion, Axios has learned. The deal was announced publicly, but dollar details were not.
Why is this important: The startup says it had two million users last week, despite launching less than a year ago and keeping very tight management of new invites until recently. He also plans to launch a creator monetization program, which could both increase usage and open up Clubhouse’s revenue channel.
Details: Clubhouse says it now has “over 180 investors.” It sounds like a starter cap table hell, but the word is, most of these contributors are staying on one line through a toll-free SPV.
The bottom line: This is a very high risk / high reward bet.
- The risk is that the audio boom is artificially inflated by the stay-at-home pandemic, and that Andreessen Horowitz’s confidence is tainted by the addiction of some of her partners to using Clubhouse.
- The reward is that this is the next evolution of social media, and that Andreessen Horowitz has just beaten other investors like Sequoia Capital once with WhatsApp.
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