Maybe Substack could grow just fine without venture capital

Substack, a publishing platform identified for its publication service, announced It crossed the two million paid subscription restrict this week. Given the wealth of historic information we’ve got on the expansion of paid subscribers on Substack, the quantity caught our consideration.

Substack’s easy enterprise mannequin additionally makes it attainable to generate a number of gross transaction quantity and income estimates for the corporate we’ll discover.

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First, a little bit context: Substack’s first known foreign capital It arrived through the Y Combinator launch accelerator in January 2018. The corporate raised $2 million in seed in April of the identical 12 months. From there, Andreessen Horowitz will lead Substack’s $15.3 million Sequence A in mid-2019 and a Massive $65 million Series B in March 2021.