Substack raises more money, but is that a good thing?
Substack raises more money, but is that a good thing? Axios reported on Tuesday that Substack is raising another $65 million in venture financing, which will give the newsletter-publishing platform a theoretical market value of $650 million. That’s more than ten times what it was reportedly worth when it raised its first $15-million round of financing in 2019, which — like the latest round — was led by Silicon Valley investment firm Andreessen Horowitz. In a blog post, the company said that it is going to use the money to expand its program of giving writers and journalists advances (w...
Source: cjr.org