App for audio chat Clubhouse announced the completion of a new Series C round of funding during its weekly town hall on Sunday, without revealing the sum raised.
According to Reuters, the new funding will value the company at $4 billion.
Earlier this month that Twitter Inc was in talks to acquire the audio app for $4 billion.
Andrew Chen of venture capital firm Andreessen Horowitz led the latest round of funding, which included major investors such as DST Global, Tiger Global, and Elad Gil, according to the company.
After appearances by billionaires Elon Musk and Mark Zuckerberg, the San Francisco-based company’s app, which allows users to address a variety of topics in audio chatrooms, has seen an increase in popularity.
The year-old, invite-only platform’s success, which recently recorded 10 million weekly active users, has demonstrated the potential of audio chat services, particularly as people remain confined to their homes due to the COVID-19 pandemic.