Twitter Inc. held talks in recent months to acquire Clubhouse, the buzzy audio-based social network, according to people familiar with the matter, Report informs referring to Bloomberg.
The companies discussed a potential valuation of roughly $4 billion for Clubhouse, the people said, asking not to be identified because the matter is private. Discussions are no longer ongoing, and it’s unclear why they stalled, the people added.
A Twitter spokesman declined to comment. A Clubhouse representative didn’t immediately respond to a request for comment.
Bloomberg News reported earlier this week that Clubhouse is in talks to raise funding from investors in a round valuing the business at about $4 billion. After the talks with Twitter failed to proceed, Clubhouse began to explore whether it made sense to raise financing at that valuation instead. The app lets users host their own online radio shows. Listeners can tune in to hear interviews or panel discussions and ask to participate in live chats.