Clubhouse 3f2j67 the Invite-Only Social Media App, Booms in Japan

Clubhouse reached a valuation of $1 billion in the round announced January 24, according to media reports. 5h5151

By Reuters | Updated: 1 February 2021 11:59 IST

Clubhouse, the Invite-Only Social Media App, Booms in Japan

Clubhouse reached a valuation of $1 billion 65316e

Highlights

Clubhouse reached a valuation of $1 billion
Clubhouse built a following among venture capitalists, startup founders
The app is backed by venture capital firm Andreessen Horowitz

ment

Private social audio app Clubhouse is growing rapidly in Japan and now ranks first among free apps on Apple's App Store in a test of its international viability following its latest funding round.

The San Francisco-based app, which s must be invited to , reached a valuation of $1 billion (roughly Rs. 7,297 crores) in the round announced January 24, a source familiar with the matter said confirming media reports.

COVID-19 pandemic spread around the world.

Facebook CEO Mark Zuckerberg Asked Australian Lawmakers to Change Policy

In Japan, it hit a tipping point over the last week with a swelling base of investors, tech industry workers and media.

Opportunities for spontaneous social interaction have been limited due to the COVID-19 pandemic, with Clubhouse providing an alternative forum to Twitter, one of the most successful social networks in Japan.

"The power of social media is erupting in every direction," Shintaro Yamada, CEO of flea market app Mercari wrote in a Twitter post in reference to recent trends including Clubhouse.

WhatsApp Posting Status Messages to Allay Privacy Concerns

Fashion billionaire Yusaku Maezawa is among public figures shifting activity to the app to talk about the money giveaways that helped make him Japan's most followed Twitter with more than 10 million followers.

Clubhouse, which is backed by venture capital firm Andreessen Horowitz, is attracting celebrities including Atsushi Tamura, a tech-savvy comedian who invested in recently listed startup Base Inc.

Japan's entertainment industry is fragmenting as alternative platforms like YouTube weaken the grip that talent agencies and broadcasters held over the lives of performers.

It remains to be seen whether Clubhouse will bed in as expansion erodes the sense of exclusivity felt by its and social options expand as the pandemic-hit economy reopens.

The growth of Clubhouse has led to handwringing on the app over why the country's tech sector has not been able to produce its own equivalent.

Japan has been slow to ride a global boom in audio content, with players like Asahi newspaper belatedly launching their own podcasts.

Does WhatsApp's new spell the end for your privacy? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, the episode, or just hit the play button below.

links may be automatically generated - see our ethics statement for details.

Comments

For the latest reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.