A TikTok house lost ~$1M in 6 months...

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
2/ The pitch:

A new-age media brand, part talent mgmt, part content studio.
3/ Influencers get:

• 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
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 😅
Now Clubhouse is looking for money from the public markets


Inspiration & great article from @TaylorLorenz nytimes.com/2020/11/20/sty…
Link to the SEC Filing


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