Voice chat app Clubhouse raises $100 million

Clubhouse, a San Francisco-based audio social network, raised around $100 million led by existing investor Andreessen Horowitz at a $1 billion post-money valuation, Axios has learned. The deal was publicly announced, but the dollar details were not.

Why it matters: The startup says it had two million users last week, despite having launched less than a year ago and keeping a very tight handle on new invites until quite recently. It also now plans to launch a program to monetize creators, which could both increase usage and open up Clubhouse's own revenue spigot.

Details: Clubhouse says it now has "over 180 investors.” That sounds like startup cap table hell, but word is that most of those backers fit on a single line via a zero-fee SPV.

The bottom line: This is a very high-risk/high-reward bet.

• The risk is that the audio boom is being artificially inflated by the stay-at-home pandemic, and that Andreessen Horowitz's confidence is colored by some of its partners' own addictions to using Clubhouse.
• The reward is that this is the next evolution of social networking, and that Andreessen Horowitz just preempted other investors like Sequoia Capital once did with WhatsApp.