Clubhouse CEO Says the Once-Hot Startup Grew 'Way Too Fast'

Clubhouse CEO Says the Once-Hot Startup Grew 'Way Too Fast'

Clubhouse, the audio-only app designed to be a virtual conference hall, generated heavy buzz during the peak of the pandemic and received a $4 billion valuation earlier this year. In the months since then, that excitement seems to have cooled. The red-hot start may have been a drawback, Clubhouse Chief Executive Officer Paul Davison said Wednesday in an interview with Emily Chang on Bloomberg Television. “Boy, I think we grew way, way too fast earlier this year,” Davison said, speaking from a conference held by Goldman Sachs Group Inc. “What we really want to do is be on that path of steady, gradual growth.” Bloomberg reported in April that Twitter Inc. had held talks to acquire Clubhouse for $4 billion. Later that month, the company raised a new round of …
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