We know. You just discovered that something called Clubhouse is up, and you should know about it. Part of you wonders if you care, but part of you assumes you don’t want to miss out. That last sentiment—the fear of missing out—is part of what has propelled Clubhouse, the app you just heard about, to a billion-dollar valuation in a flash.

But first, what is Clubhouse?

Clubhouse is an invite-only, audio-only chat platform that quickly garners a lot of publicity due to its exclusivity appeal and rapidly increasing ratings. Many see Clubhouse as the next big thing in social media.

The drop-in audio chat app essentially combines the benefits of conferencing apps like Zoom with those of Discord, where users can meet in virtual rooms based on interests and chat. However, the app is currently invite-only, meaning the only way to get in on the fun is via an invite from an existing user.