Twitter to Acquire Clubhouse: According to the reports, Twitter has been in talks with Clubhouse for several months to acquire the audio-based app for a total of $4 billion.

A very hefty amount to be paid as the app is just over a year old. The app has a grand total of 10 million users on its platform as of March 2021. 

The app grew at a tremendous rate since its launch in April 2020. The app has a total of 1500 users in May 2020 which grew up to 2 million in Jan of this year. 

Bloomberg recently revealed that Clubhouse is in conversation with various financial institutions to raise funding from them totaling about $4 billion dollars.

After the discussions with Twitter didn't come to any conclusion, Clubhouse started to investigate whether it appeared well and good to raise financing at that valuation.

The application allows users to have their own online public broadcasts. Members can check out audio meetings or board conversations and request to partake in live talks. 

The clubhouse is just over a year old however has drawn audiences from probably the greatest names in business and Hollywood.

Various social media organizations have gone out to make a similar audio-based app to get into the same cloud as the clubhouse.

Facebook Inc. is scratching for the same, as well, and Microsoft Corp's. LinkedIn and Slack Technologies Inc. have additionally said they're chipping away at comparable features for their organizations. 

Twitter shares were up about 3% on Wednesday, giving the San Francisco-based organization a market estimation of $55.1 billion.

Twitter's Clubhouse rival, called Spaces, dispatched in late 2020, however, it's as yet in beta structure and not everything clients can make or host public conversations.

CEO Jack Dorsey is bullish on the potential for sound as another path for individuals to communicate on Twitter, and the organization has since a long time ago bet on live substance through association arrangements and acquisitions.

At a press occasion on Wednesday, Twitter head of income Bruce Falck said the organization is thinking about approaches to adapt Spaces, yet those conversations are as yet in the beginning phases. 

The organizations talked about a possible valuation of generally $4 billion for Clubhouse, individuals said, requesting that not be recognized on the grounds that the matter is private.

Conversations have now come to halt, and it's indistinct why they slowed down, individuals added. A Twitter representative declined to remark. A Clubhouse delegate didn't promptly react to a solicitation for input.