Tech Entrepreneur Announces Rival To Clubhouse To Become Available In Russia

MOSCOW (Pakistan Point News / Sputnik - 26th February, 2021) Russian-born billionaire tech entrepreneur Andrey Andreev has announced making his new social audio service, Stereo, which is similar to the currently popular app, Clubhouse, available in Russia.

Just like Clubhouse, Andreev's app is used for conducting live audio chats, but unlike its competitor, Stereo allows you to make recorded sessions and receive donations from listeners. The entrepreneur noted that Stereo now has over one million users on iOS and the same number on Android.

"I think that the audio space is probably the only market where no one has currently tried anything, where is no competition and where the sky's the limit," Andreev said in an interview with Forbes, in which he revealed the launch in his country of birth.

In the past, Andreev, who currently lives in the United Kingdom, launched several successful dating apps such as Badoo and Bumble. In 2019, the businessman sold his share in MagicLab, the parent company for his creations, and in 2020 started working on Stereo. His current net worth is estimated at $1.9 billion.