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Twitter, Facebook, Instagram and Snapchat are all commonly known social media platforms which are used globally 24 hours a day, 7 days a week. However, ‘there is a new kid on the block’ and it is something a little more exclusive… the Clubhouse App. Spiralling across Instagram and Twitter- it has currently been the hot topic of discussion as the Clubhouse is an invite-only platform. However, so you do not experience any FOMO (feeling of missing out), we are here to give you all the insight you need into this brand new microcosm.
What is the Clubhouse app?
The Clubhouse is alive, an audio-only platform which allows many people of similar bodies to join together and discuss a variety of different topics. As it is all audio-based, there are no written comments or messages and there is currently no option known that allows users to record. Currently accessible to iPhone users only who are 18 and over, the Clubhouse has announced in their recent January 2021 blog post that there are plans to make this accessible to more users as an Android release is on the way. Created and developed by Silicon Valley entrepreneur Paul Davison and ex-Google employee Rohan Seth. In which the duo had received a funding of approximately $12 million from the capital firm Andreessen Horowitz, last May. Although the app had been created in April 2020, by December 2020 the company had a valuation of up to $100 million, following through to January 21st, 2021- the valuation had hit one billion US dollars.
According to the app developers themselves, on the Apple Store Preview, they have described the Clubhouse to be “a space for casual, drop-in conversations– with friends and other interesting people around the world”.
How to join the Clubhouse?
The main reason as to why the Clubhouse is currently the talk to the social-media town is because it is in the beta stage- it can only be accessed via invite-only. The first step is to download the app, in which the app will then scan your phone to analyse whether you already have contacts using the app or not. Taking only a few minutes- these very few minutes will take the time to determine whether you can enter or not. There are also other means of access such as the never-ending waiting list.
Upon entering the Clubhouse, you will find many virtual “rooms” to choose from. When you enter the chosen room, your audio will be automatically muted, to which you can simply sit back and listen or get involved in the hot topic of discussion by unmuting yourself. However, it is up to the creators also known as the moderators of the room to be able to decide who and who is not able to speak. Alternatively, to get involved users can raise the hands to join the discussion. Consider it a public meeting… people can join and leave rooms whenever they want; they also have the option to create their room too. Since the app has been actively used- research has been found that a majority of the users are currently using the app to communicate about subjects such as political issues, everyday life and entertainment. However, criticisms and controversies have already spiked as there are claims of Anti-Semitism and Black Culture.
At the moment, there are many famous people such as Drake, Oprah Whinfrey, Virgil Abloh and Mark Cuban who are all using the brand new voice-chat based app.
Clubhouse Stocks
With Clubhouse’s valuation last May reaching to $100 million, with only approximately 1,500 users– the trading world is now buzzing to get their hands on a few shares as the current situation for the Clubhouse has increased ten-fold, pushing to a valuation of $1 billion. However, this seems to be too impossible at the moment as the company is yet to become an IPO. But, online platform MoneyMorning says otherwise as they predict that “there is no doubt about whether a Clubhouse IPO will be a media bombshell”.
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