Clubhouse CEO says the once-hot startup grew ‘way too fast’

Clubhouse CEO says the initial hype for the app – which saw its valuation balloon to RM16.61bil earlier this year – may have hurt the company, which struggled to catch up with its own success. — Relaxnews/ETX/Dailyup

Clubhouse, the audio-only app designed to be a virtual conference hall, generated heavy buzz during the peak of the pandemic and received a US$4bil (RM16.61bil) valuation earlier this year. In the months since then, that excitement seems to have cooled.

The red-hot start may have been a drawback, Clubhouse Chief Executive Officer Paul Davison said Wednesday in an interview with Emily Chang on Bloomberg Television.