“Boy, We Grew Way Too Fast”: Clubhouse CEO On Slowdown

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Clubhouse essentially allows users to host their own online radio shows.

Clubhouse, the audio app uniquely designed to be a virtual conference room, generated a lot of buzz during the peak of the pandemic and received a valuation of $ 4 billion earlier this year. In the months that followed, that excitement seemed to have cooled.

The rapid start may have been a downside, Clubhouse general manager Paul Davison said in an interview with Emily Chang on Bloomberg Television on Wednesday.

“Boy, I think we grew way, way too fast earlier this year,” Davison said, speaking at a conference hosted by Goldman Sachs Group Inc. “What we really want to do is is to be on the path to steady and gradual growth. “

Bloomberg reported in April that Twitter Inc. had been in talks to acquire Clubhouse for $ 4 billion. Later in the month, the company raised another round of funding led by venture capital firm Andreessen Horowitz, giving it the same rating – quadruple the level Clubhouse received in January.

Clubhouse essentially allows users to host their own online radio shows. Listeners tune in to hear interviews or panel discussions and can participate in live discussions. The platform has attracted appearances from big names in tech and other fields, including Elon Musk of Tesla Inc. and Mark Zuckerberg of Facebook Inc., and has inspired copy apps.

At times, Clubhouse also struggled to control the app’s misconduct, drawing criticism that it was not doing enough to eliminate anti-Semitism and other issues.

Even as the company launched its app on the Android platform in late spring – alongside its iOS service – it was seeing downloads slow. Davison said Clubhouse’s rapid growth early on “really put our systems under stress,” causing the eight-person company to scramble to hire quickly.

Today, Clubhouse has around 80 employees, he said. Davison also said that “compensation for creators is something we absolutely should be thinking about.”

When asked if the company might see a drop in user numbers as people return to normal lives, Davison said he sees an opportunity in people who listen on the go.

“We’ve finally come to the point where we can catch our breath and really focus on the long term, focus on growing steadily,” Davison said.

(Except for the title, this story was not edited by DAILYNEWSCATCH staff and is posted from a syndicated feed.)

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