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China’s VCs Join Startups in Rush to Build a Homegrown Clubhouse

March 19, 2021, 10:00 AM

Celebrities and tech luminaries turned Clubhouse into the surprise hit of 2021 by letting loose on a freer, more casual audio format. A growing number of big-name investors now hope to replicate that phenomenon in a far more unlikely arena.

The venture capital houses behind some of China’s biggest social media smashes are looking to offer millions to untested Clubhouse wannabes that’ve sprung up in past months. Tencent Holdings Ltd. and Alibaba Group Holding Ltd. have begun testing audio-only chats in their platforms. Even smartphone maker Xiaomi Corp. is now toying with the concept. All are looking for the next ...

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