Clubhouse's Billion-Dollar Balloon Deflates: Layoffs Loom Large
The COVID-19 pandemic minted several high-valued companies as the demand for social media skyrocketed when people were physically staying away from one another. Clubhouse, a social audio platform, reached a valuation of $4 billion within a year after it raised funds from Andreessen Horowitz, Tiger Global Management and DST Global. The app crossed $14 million in downloads in the first quarter of 2021, making it a pandemic-era unicorn. But the app seems to have lost its charm post-pandemic, with t
Source: yahoo.com