Elon Musk’s banter with Robinhood CEO triggers stampede for Clubhouse app

A shock chat between tech billionaire Elon Musk and Robinhood CEO Vlad Tenev on new audio-based social community Clubhouse has helped propel the app to the highest of the startup charts and sparked a scramble for invites to the unique service.

The interplay between the 2 entrepreneurs on the platform on Sunday got here amid intense curiosity in information round Robinhood, the net brokerage caught up in a wild stockmarket battle between retail traders and massive Wall Street funds.

Demand for invites to the less-than-a-year-old service — members get to ask a restricted variety of mates throughout its pre-launch interval — is so scorching, a market for them has grown on platforms like Reddit, eBay, and Craigslist.

In China, invites are being bought on Alibaba’s second-hand market place Idle Fish, despite the fact that Clubhouse is not accessible in Apple’s app retailer in that nation.

In Japan traders, tech staff and the media have swarmed the service.

As of Tuesday, information analytics agency Sensor Tower stated there have been about 3.6 million installs worldwide for the app–only accessible on Apple’s iPhone–with 1.1 million of them coming within the final six days.

Investors had been so keen for a bit of the motion that at one level on Monday they pushed up shares in Clubhouse Media Group, a very unrelated stock, by 117%.

Chinese tech agency Agora Inc, listed on Nasdaq, noticed its shares soar 30% on media reviews that it could be a know-how associate to Clubhouse. Agora declined to remark whereas a Clubhouse spokeswoman declined to touch upon questions on know-how companions.

The San Francisco-based company’s newest spherical of financing in Jan. 24 valued the company at $1 billion, a supply acquainted with the matter stated. The funding was led by Andreessen Horowitz, a number one Silicon Valley enterprise capital agency.


Amid the thrill, Clubhouse has additionally drawn backlash from those that criticize the closed-door nature of chats just like the one between Musk and Tenev.

Jessica Lessin, editor-in-chief of tech information outlet The Information tweeted that Marc Andreessen, a founding associate of Andreessen Horowitz, which additionally backs Robinhood, had blocked many reporters from listening in on Musk’s discuss.

The chat between Musk and Tenev passed off on a daily Clubhouse occasion referred to as “The Good Time Show.”

Andreessen Horowitz did not reply to Reuters’ request for touch upon this difficulty.

However, Clubhouse CEO Paul Davidson instructed Bloomberg TV on Monday occasion hosts might select who’s allowed to hear, underscoring issues in regards to the clubby nature of the app.

Andreessen Horowitz individually stated in a weblog in January that it was launching new “media property,” including to its already energetic podcasting and running a blog actions.

Clubhouse aspires to make the app broadly accessible, and foresees business alternatives in subscriptions or tickets to occasions just like the one Musk starred in.

It must contend with moderating the form of web site abuses, from hate speech to harassment, that main social media platforms face. Clubhouse has been criticized over reviews of harassment and hate speech in its rooms, a few of that are personal and a few public.

A spokeswoman for the app stated it has already banned some particular person customers from the platform for violating its guidelines however declined to share extra particulars.

The company has stated it doesn’t permit racism, hate speech, sexism and abuse on the community, although it says it does permit “general rudeness.” It has stated customers who discovered golf equipment on the app will be capable to set guidelines for their communities.

The Clubhouse spokeswoman stated it at present has about 10 employees. The company has stated it’s investing in instruments that detect and stop abuse in addition to options for customers to average.

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