Read on Twitter
A TikTok house lost ~$1M in 6 months...
Now it’s a publicly traded stock.
Thread
Now it’s a publicly traded stock.
Thread
1/ Last week, Clubhouse Media went public via a reserve merger:
• 4 TikTok Houses
• 90M combined followers
• 4 TikTok Houses
• 90M combined followers
2/ The pitch:
A new-age media brand, part talent mgmt, part content studio.
A new-age media brand, part talent mgmt, part content studio.
3/ Influencers get:
• Free rent
• Editor, videographer, etc
• Access to “cross pollination” opportunities
• Free rent
• Editor, videographer, etc
• Access to “cross pollination” opportunities
4/ Clubhouse Gets:
• Talent Deals: 10% - 50% cut*
• Account Deals: 100% cut
• Promotion: Regular tags & mentions of clubhouse
• Talent Deals: 10% - 50% cut*
• Account Deals: 100% cut
• Promotion: Regular tags & mentions of clubhouse
5/ The problem? ClubHouse is burning money.
Jan - July, 2020
Revenue: $95,000
Cost of Sales: $90,000
——————————————
Gross Profit: $5,000
Expenses: $974,000
——————————————
Operating Loss: -$969,000
Jan - July, 2020
Revenue: $95,000
Cost of Sales: $90,000
——————————————
Gross Profit: $5,000
Expenses: $974,000
——————————————
Operating Loss: -$969,000
Now Clubhouse is looking for money from the public markets
Thoughts?
Thoughts?
Inspiration & great article from @TaylorLorenz https://www.nytimes.com/2020/11/20/style/clubhouse-tiktok-tongji-west-of-hudson.html
Link to the SEC Filing https://sec.report/Document/0001493152-20-021087/
