Clubhouse, Silicon Valley’s invitation-only audio chat room, is now one of the fastest-growing social media apps in the world.
What Happened: According to Sensor Tower, an app analytics company, Clubhouse ranks in the top 30 of apps that iPhone users have downloaded this week in the U.S., and is first in nine countries including Germany, Japan, Italy, Taiwan and Brazil.
According to a data analyst, the app crossed almost 6 million registered users as of February 1, 2021.
Clubhouse is less than a year old but is already valued at around $1 billion. The newcomer hopes to popularize audio as the next big social medium, instead of photos or text.
The application was developed by Paul Davidson and Rohan Seth.
Why It Matters: The U.S.-based app gained in popularity after Tesla Inc (NASDAQ: TSLA) founder Elon Musk made his debut on the platform on February 1st and spoke with Robinhood CEO Vlad Tenev. This includes in China where the hashtag “Clubhouse Invite Code” was trending social media platform Weibo this week. The app remains as of yet unblocked by the country’s censors, unlike major foreign social media platforms such as Facebook, Inc. (NASDAQ: FB) and Twitter Inc (NYSE: TWTR).
Musk’s appearance probably also led to the spike in a similarly named but unrelated company’s share price this week.
Because of its popularity among Chinese users, the app’s invitation codes are now being sold at $23 to $62 on Taobao, an online marketplace owned by Alibaba Group Holding Ltd (NYSE: BABA).
Photo by Rami Al-zayat on Unsplash.
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