Clubhouse was in talks for an acquisition by Twitter

Twitter held talks with Clubhouse around a potential acquisition of the live drop-in audio networking platform, with a deal value somewhere around $4 billion, according to a report from Bloomberg.

Twitter has its own product very similar to Clubhouse — Spaces, a drop-in audio chat room feature that it has been rolling out gradually to its user base over the past few months. The company claims that the feature is doing fairly well and is getting good responses from its user base.

Bloomberg also reported that Clubhouse is now seeking to raise a new round of funding at a valuation of around $4 billion, after the talks of acquisition fell through. The acquisition news couldn’t have come at a better time as it will likely prime the pump for Clubhouse’s conversation with potential investors at its target valuation for the round it’s looking to raise.

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