Newsletter platform Substack raises $100 million, reaching a valuation of $1.1 billion
According to ChainCatcher, Bloomberg reports that Substack, a newsletter platform for independent writers, has recently completed a $100 million funding round, bringing Substack's valuation to $1.1 billion after this round.
This round was led by BOND and Chernin Group, with participation from Andreessen Horowitz, Klutch Sports Group founder Rich Paul, and Skims Body Inc. co-founder Jens Grede, among others.
Founded in 2017, Substack enables creators to sell paid subscriptions to their newsletters and has since expanded into podcasts and video content. The number of paid subscribers has now surpassed 5 million, and the platform has broadened its content formats to include podcasts and video. Earlier this year, Substack also launched a $20 million fund to attract content creators from social platforms such as TikTok.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
USD/JPY Price Forecast: Hits one week low as bears eye trading range support near 157.50
Susquehanna raises pre-earnings price targets for chip stocks: AMD (AMD.US), Qualcomm (QCOM.US), etc. receive upward revisions
Susquehanna has adjusted the target prices for chip stocks such as AMD, Intel, and Qualcomm.
Wedbush: Hard drive supply falls short of demand, Seagate (STX.US) and Western Digital (WDC.US) earnings reports may bring surprises
Wedbush reiterated its "outperform" ratings for Seagate and Western Digital, setting target prices at $1,000 and $650, respectively.
JPMorgan maintains Underweight rating on Nike (NKE.US): Deep in adjustment pains, performance pressures may persist until fiscal year 2028
Recently, JPMorgan released a U.S. equity research report on Nike. The research team participated in a face-to-face meeting with Nike's new CFO, Denton, updated profit assumptions based on management statements, and maintained an “underweight” investment rating on Nike.
Crypto prices
More
