What happened to Clubhouse? CEO says once-buzzing firm grew 'way too fast'

Clubhouse's rapid growth early on 'really stressed systems', prompting the company of eight people to scramble to hire quickly.

Clubhouse, the audio-only app designed to be a virtual conference hall, generated heavy buzz during the peak of the pandemic and received a $4 billion 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.

“Boy, I think we grew way, way too fast earlier this year,” Davison said, speaking from a conference held by Goldman Sachs Group Inc. “What we really want to do is be on that path