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Twitter Inc. held acquisition talks with audio-based social app Clubhouse in a deal that would have valued the company at $4 billion, Bloomberg reported today.
The talks are described as having taken place in recent months but are no longer ongoing. Why the talks didn’t progress further is unknown.
Founded in March 2020, Clubhouse is an audio-based social app that allows users to join group chats spontaneously. On its Apple App Store page, it describes itself as a “space for casual, drop-in audio conversations with friends and other interesting people around the world.”
That Twitter took an interest in acquiring Clubhouse, formally named Alpha Exploration Co., is not without a sense of deja vu: Clubhouse’s rapid growth and general buzz is very similar to the early days of Twitter and its initial rapid rise.
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