Twitter reportedly held discussions to buy Clubhouse for $4 billion (TWTR)

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Twitter might be interested in buying Clubhouse.

Bloomberg reported the social media platform held talks “in recent months” to buy Clubhouse for $4 billion, but the discussions have fizzled out for unknown reasons. 

“We don’t comment on rumors or speculation,” a Twitter spokesperson told Insider. Clubhouse was not immediately available for comment.

Read more: Clubhouse cofounder Paul Davison had another hit social app in 2011. He explains why it failed.

Clubhouse, an invite-only social media app that lets users join and host audio talks, is in talks for a funding round that would value the company at $4 billion, per Bloomberg. The startup has raised $110 million in funding as of January 24, giving it a valuation of up to $1.4 billion.

Clubhouse’s popularity has skyrocketed this year. The app had been downloaded 11.4 million times as of March 1, according to App Annie, up from 3.5 million the month prior. The app attracted high-profile users like Paris Hilton, Oprah Winfrey, and Mark Cuban.

Twitter reported promising earnings in February 2021 and announced the firm increased user count 27% to 192 million at the end of 2020. The platform made the contentious decision to permanently suspend former president Donald Trump due to his part in inciting violence during the January 6 Capitol uprising. 

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

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Source:: Businessinsider

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