Although testing began with only 1,000 users, after a week, the company rolled out the functionality to another 60,000 or more users in the US. On April 5, 2021, Clubhouse partnered with Stripe to launch its first monetizing feature called Clubhouse Payments. During its initial rollout, the app was accessible only by invitation, and invitation codes on eBay were selling at up to $400. The decline is reportedly caused by a decrease in the number of Clubhouse users after its initial release. In that month, Clubhouse hired an Android Software Developer A year after the app's release, the number of weekly active users was greater than 10 million, but the user base declined 21% during three weeks from late February to early March. This significant growth in popularity occurred after celebrities such as Elon Musk and Mark Zuckerberg made appearances on the app. On February 1, 2021, Clubhouse had an estimated 3.5 million downloads globally and grew rapidly to 8.1 million downloads by February 15. In that month, the app became widely used in Germany when German podcast hosts Philipp Klöckner and Philipp Gloeckler started an invite-chain over a Telegram group, bringing German influencers, journalists, and politicians to the platform.

The company announced that it would begin working on an Android version of the app. In January 2021, CEO Paul Davison announced that the app's active weekly user base consisted of approximately 2 million individuals.

The app gained popularity in the early months of the COVID-19 pandemic and had 600,000 registered users by December 2020. Clubhouse was valued at $100 million after receiving funding from notable angel investors, including Ryan Hoover ( Product Hunt), Balaji Srinivasan ( Coinbase), James Beshara ( ), and several venture capitalists, including a $12 million Series A investment from the venture capital firm, Andreessen Horowitz, in May 2020. Originally designed for podcasts under the name Talkshow, the app was rebranded as 'Clubhouse' and officially released for the iOS operating system in March 2020. Clubhouse began as a social media startup by founders Paul Davison and Rohan Seth in Fall 2019.

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