Substack Completes $100 Million Funding Round at $1 Billion Valuation, with a16z Participation

BlockBeats News, July 18th, according to TechinAsia report, content subscription platform Substack recently completed a $100 million funding round led by BOND and The Chernin Group, with participation from Andreessen Horowitz, Klutch Sports Group's Rich Paul, and Skims Body Inc co-founder Jens Grede.

Following this funding round, Substack's valuation reached $1.1 billion. Founded in 2017, the Substack platform allows creators to sell paid subscriptions to newsletters and has expanded into the podcast and video content realms. The platform currently has over 5 million paid subscribers.