Will the new tipping feature help Clubhouse sustain in the mainstream?
Clubhouse, a popular audio-based social media app making waves, has added an important payment feature in its iPhone-only app. The feature allows the growing influencers to monetize through tips.
The payment feature is available for the influencers, who gathered hundreds of thousands of followers to test the functionality. The company has enabled this feature for a small test group, for now, to improve the feature before releasing it for all.
A new tipping tool
Clubhouse, which was recently valued at $1 billion is just a year old and has shown significant growth in their user base. Now, it looks like, they do not want to lose their users to Twitter Spaces and other platforms, so they have come up with this new feature for their users to earn some bucks..
Supporting influencers through monetization
Earlier in January 2021, the startup raised Series B funding led by Andreessen Horowitz, which was a part of $100 million funding said for a creator grant program. The program helps in “Support emerging Clubhouse influencers” — an initiative to reward their creators to provide high-quality audio content on the platform.
As compared to other social media platforms, Clubhouse has been a bit late in providing the payment feature to their creators. The social media platforms including Instagram, TikTok and SnapChat already have the feature for their user base.
Clubhouse has become a popular application in audio-based social media platforms since its launch in March. It has grown to 12 million downloads and is daily increasing with several million users despite availability on only iPhones and being invite-only. Still, as per many industry experts, the potential of audio-based social media platforms is questionable for long-term. As per the data from AppAnnie, which tracks the downloads noted that the downloads for the app has gone down to half as compared to February.
At the same time, according to a report by Bloomberg, Twitter held talks with Clubhouse for acquisition at a deal value around $4 billion. Reportedly, they’ve been in discussions for the past several months, but the deal is not taking place for unknown reasons. In another report, Bloomberg stated that Clubhouse planned to raise a funding of $4 billion. The report indicates the talk related to acquisition by Twitter collapsed, leading to the Clubhouse to pursue additional funding raise strategy.