Sectors
Entertainment, Marketplace, Social
Headquarters
San Francisco, CA, USA
CEO
Chris Best
Substack shares, as of Apr 21, 2025, are valued at a price per share implying an approximate 12.85% discount to their to their last round.Substack shares, as of Apr 21, 2025, are valued at a price per share implying an approximate 12.85% discount to their to their last round.
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Series B Valuation
Latest funding round
$650.0M
XXXXX
2021-04-28
XX-XX-XXXX
PM Insights Implied Valuation
$566.49M
2025-04-21
AV Implied Valuation
XXXXX
XX-XX-XXXX
Change since Last Round
-12.85%
2021-04-28 ➞ 2025-04-21
Change since Last Round
XXXXX
XX-XX-XXXX
Secondary Activity
XXXXX
Business Partnerships
Targeted Impact
Who Will Benefit?
What Comes Next?
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Substack generated $28.5M in revenue as of 2023, reflecting a year-over-year growth rate of +50.0%, according to PM Insights' market research. Substack carries a 13.74x revenue multiple as of Apr 21, 2025, according to PM Insights' venture secondary market data.
PM Insights tracks detailed primary funding rounds and verifies cap table directly from original filings for Substack. Substack raised $65.0M in its Series B on April 28, 2021, with a price per share reflecting a post-money valuation of $650.0M, according to PM Insights' market data.
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