Company Profile (AI Text)
Name: Substack
Canonical URL: https://wefunder.com/substack
Updated at: 2026-06-02T05:01:21Z

Tagline: The subscription network for independent writers and creators

Key claims:
- Total raised on Wefunder: 7809219 | citation: https://wefunder.com/substack#claim-total-raised
- Total investors: 6686 | citation: https://wefunder.com/substack#claim-total-investors

Verified facts:
- Total raised on Wefunder: 7809219 | observed_at: 2026-06-02T05:01:21Z | expires_at: 2026-06-03T05:01:21Z
- Total investors: 6686 | observed_at: 2026-06-02T05:01:21Z | expires_at: 2026-06-03T05:01:21Z

Computed metrics:
- total_amount_raised: 7809219
- total_investors: 6686
- team_size: 5
- featured_investor_count: 1
- faq_count: 5
- recent_post_count: 0

Quick facts:
- Substack’s mission is to build a new economic engine for culture. | citation: https://wefunder.com/substack#claim-fact-1
- Substack is a subscription network based on writing, podcasting, community, and other forms of culture-making. | citation: https://wefunder.com/substack#claim-fact-2
- The network has more than 35 million active subscriptions, including 2 million paid subscriptions. | citation: https://wefunder.com/substack#claim-fact-3
- The Substack network now drives 40 percent of all subscriptions and 15 percent of paid subscriptions on the platform. | citation: https://wefunder.com/substack#claim-fact-4
- Cumulatively, readers have paid writers more than $300 million through Substack. | citation: https://wefunder.com/substack#claim-fact-5

FAQ:
- Q: Based on initial minimum investment of $100, what’s the ownership stake per dollar invested? Meaning…is it one share per $100 or is it fractionalized shares pro-rated per a pre-determined formula?
  A: Hi Joseph! Suzanna from Wefunder here – Substack is raising at a $585M pre-money valuation. Your exact ownership percentage will depend on how much we end up selling in this round extension, but with a $100 investment it would be less than 0.01% of the company. The price per share is about $26, so your $100 investment would buy about four shares. Of course, the Substack team is intending to grow that valuation, so that the value of your investment grows - but nothing is guaranteed in startup ...
- Q: I am trying to find financial statements and projections.
  A: Hi Dylan, Thanks for the question. We’re not able to provide much information in the way of projections, per guidance from Wefunder. But you can check out where we’re headed under the “The opportunity for subscription networks” section of our profile: https://wefunder.com/substack/ When we file our paperwork with the SEC (estimated in the next 1 - 2 weeks), we’ll include two years of audited financial statements. If you place a reservation now, you’ll be asked to confirm it at that time – so ...
- Q: What is your monthly net income, burn and runway? Im calculating at 650MM post, this is priced at 37X TTM revenue? can you please provide more details on your financials?
  A: Hi Paul! When we file our paperwork with the SEC (estimated in the next 1 - 2 weeks), we’ll include two years of audited financial statements. If you place a reservation now, you’ll be asked to confirm it at that time – so you can make a final decision on whether to invest after you’ve seen more information.
- Q: What type of shares do investors receive? Will you be paying dividends? Can I auto-invest monthly via subscription revenue? This lacks a lot of information.
  A: Hi Nathan, Investors this round are getting Series B Preferred Stock (the same class of stock we sold in our Series B). That stock doesn’t guarantee dividends, although it is possible some would be issued in the future. We don’t have an auto-invest feature for subscription revenue set up – our expectation is that the round will be closed sometime in the next several weeks.
- Q: How did you come up with the $585mln pre-money valuation?
  A: Hi Richard, We raised a Series B last year. This round is an extension of that one (with the same valuation), so the price was set in partnership with the venture capitalists who invested in us. We wanted to give our community of writers and readers the opportunity to invest at that same valuation.