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History Of Clubhouse

History Of Companies - 80

By TheNaethPublished 12 months ago 3 min read
History Of Clubhouse
Photo by Antoine J. on Unsplash

Clubhouse inspired competitive offerings from Meta, Twitter via Twitter Spaces, and Spotify with a product named Greenroom

In the fall of 2019, Paul Davison and Rohan Seth started Clubhouse as a social media business. The app was originally called Talkshow and was developed for podcasts. It was then renamed as Clubhouse and was formally published for the iOS operating system in March 2020.

The software was then released for Android devices in May 2021. After collecting money from well-known angel investors, Clubhouse was valued at $100 million. Ryan Hoover (founder of Product Hunt), Balaji Srinivasan (former CTO of Coinbase), James Beshara (co-founder of Tilt.com), and a number of venture capitalists were among the investors. In May 2020, Andreessen Horowitz, a venture capital company, made a $12 million Series A investment.

In the early months of the COVID-19 epidemic, the app became popular. By December 2020, it had 600,000 users who had registered. In January 2021, CEO Paul Davison said that the app had over 2 million active users per week.

The business made an announcement that it will begin developing an Android version of the app. In that month, the app became popular in Germany when Philipp Klöckner and Philipp Gloeckler, who broadcast a podcast, started an invite-chain in a Telegram group. It attracted German influencers, journalists, and politicians to the site. Clubhouse's Series B was funded with a value of $1 billion.

Clubhouse has around 3.5 million downloads worldwide on February 1, 2021. By February 15, the number of downloads had increased to 8.1 million. The app's popularity increased significantly since celebrities like Elon Musk and Mark Zuckerberg used it.

An Android Software Developer was recruited by Clubhouse in the same month. One year after the app was released, the number of weekly active users exceeded 10 million.

However, the user base fell by 21% during the course of three weeks, from late February to early March. It has been stated that the number of Clubhouse users dropped when the app was first released, which is what caused this dip. At the beginning of its launch, the software could only be accessed with an invitation, and invitation codes were being sold on eBay for as much as $400.

On April 5, 2021, Clubhouse teamed up with Stripe to provide its first monetization option, which was dubbed Clubhouse Payments. The business started testing with only 1,000 people, but within a week, they made the feature available to an additional 60,000 or more consumers in the United States.

Twitter had gone into negotiations to acquire Clubhouse for $4 billion in the same month. The discussions concluded without any purchase.Later on, the firm increased the amount of money they received in their Series C round of fundraising to a value of $4 billion.

That month, the National Football League announced a content arrangement, which also sparked interest in a relationship with the app. Later, Twitter Spaces stole Clubhouse's exclusive NFL arrangement, scheduling 20 official NFL Spaces for the 2021-22 season.

Clubhouse established a cooperation with TED in July 2021 to provide unique presentations.

The corporation got rid with its invitation system on July 21, 2021, and made the application open to everyone. However, there is still a waitlist for registration since user accounts will be generated over time to handle the increase in traffic.

At the time of the announcement, the firm claimed that there were 10 million people on the waiting list. The business revealed a new feature called "Wave" on September 23, 2021.In October 2021, Clubhouse introduced new capabilities named "Replays and Clips."In April 2022, the corporation introduced a new dark mode for its iOS and Android applications.

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