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Name Confusion Fuels ‘Wrong’ ClubHouse to Surge Over 1,000%

  • Beverly Hills-based company changed its name, focus last month
  • Investors are confusing company with VC-backed audio app
Updated on

ClubHouse Media Group Inc., a self-described marketing and media firm targeting social media influencers, has surged over 1,000% this year as retail traders mixed the company up with a similarly named app.

Beverly Hills, California-based ClubHouse, which changed its name from Tongji Healthcare Group Inc. and promoted its influencer and social media focus starting last month, has drawn some confusion among investors. The company shares a name with the buzzy conversation app known as Clubhouse, which is backed by venture-capital firm Andreessen Horowitz and is not publicly traded.