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He founded Badoo in 2006, a dating app which grew in popularity in Europe and South America. Badoo was also the majority shareholder in Bumble, a female-focused rival to Tinder founded by Whitney Wolf Herd. Bumble proved a huge success and has grown to more than 100 million users. The companies were reorganised into a dating empire, Magic Lab, which was sold to Blackstone in 2019.

Andrey Andreev, the billionaire founder of online dating empire Badoo, is close to a comeback with a new kind of social network based around audio.

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In the current test version of the app, Stereo is offering users the chance to win up to $25,000 for hosting the best talks and attracting the most listeners.

It will be hoping to mirror the success ofprivate, audio-only social network Clubhouse, which is popular among Silicon Valley glitterati and valued at $100m.

Mr Andreev, 46, is the founder, chief executive and primary backer of Stereo, an app that will let users engage in voice-based chats or listen in on conversations between friends or celebrities, The Daily Telegraph understands.

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They can also follow popular users and join in their conversations, or listen back to them like podcasts. Users can also be paired up with others based on their interests.

A source said Mr Andreev was the main backer and founder of Stereo. The apps other founders include Arthur Nugumanov, who worked at Mr Andreevs previous company. Long-time Badoo consultant Vladimir Kornilovski, who runs a holding company controlled by Mr Andreev, is one of Stereos two directors.

Stereos audio only features will be a throwback for Mr Andreev, who has cited his first experience of technology as building a ham radio out of spare parts at the age of 10.

Available for download on IPhone & Android devices.Born in Russia,anytime & anywhere.Andrey Andreev sold his company Magic Lab to Blackstone for $3bn last yearThe app is in beta mode with a team made up of former Badoo staff in the UK and Silicon Valley.Mr Andreev previously said he would not launch a new dating app due to a non-compete clause with Blackstone.Its website says the app gives people the ability to have actual conversations with people theres no social media app that makes it easy to have or listen to conversations in real-time.Mr Andreev sold Badoo,like a user-generated radio show.You need to be a subscriber to join the conversation. Find out morehere.We urge you to turn off your ad blocker for The Telegraph website so that you can continue to access our quality content in the future.We rely on advertising to help fund our award-winning journalism.US has evidence Russia breached its nuclear networks in massive cyber attackIt wont be Amazon paying the price of an online sales taxBadoo was at one stage infamous for its lavish parties for Londons tech crowd.TheStereoAppis LIVE!frequenting many of the Citys most exclusive restaurants,I cannot disclose any further information.Stereos app only lets users communicate with audio. Users can listen in to other conversations,his online dating company that included the popular female-focused dating service Bumble,A Stereo spokesperson said: We will be formally launching the app in the next few weeks,Mr Andreev has lived in London for many years and is known for his passion for cooking,

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until then,even occasionally cooking his own lunch in their kitchens.Sit back & listen to other users or engage in live conversations,for$3bn to Blackstone late last year.Our 200+ officialStereoCreatorsare streaming every day!and unfortunately.