Substack, a publishing platform identified for its e-newsletter service, introduced this week that it had crossed the two million paid subscription mark. Given the wealth of historic knowledge we have now in regards to the progress of paid subscribers at Substack, the quantity obtained our consideration.
Substack’s easy enterprise mannequin additionally makes it doable to generate a couple of gross transaction quantity and income guesses for the corporate, which we’ll discover.
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First, just a little context: Substack’s first identified exterior capital got here in January 2018 through the Y Combinator startup accelerator. The corporate raised a $2 million seed spherical in April of the identical 12 months. From there, the startup’s capacity to boost new funds shortly accelerated, with Andreessen Horowitz main Substack’s $15.3 million Collection A in mid-2019 and an enormous $65 million Collection B in March 2021.