A subscription network for independent writers and creators.
Media📍 San Francisco, CAFounded 2017
Current Valuation
$1.1B
as of 2025-Q3
UNICORN
IPO Outlookprivate
Is Substack going public?
No. Substack is private and has not filed to go public. There is no S-1 on file.
What is Substack's valuation in 2026?
Substack is valued at $1.1B as of 2025-Q3, set by its Series C ($100M, Jul 2025). That is the last confirmed mark, not a live price — private shares do not trade continuously.
Has Substack filed an S-1?
No public S-1 is on file for Substack.
Who are Substack's investors?
Substack's investors include a16z, Y Combinator, Skip Capital, BOND, TCG Ventures, Index Ventures and 2 more.
Answers are derived from the roster record shown on this page — filing status, last round and confirmed marks. Where the record is silent, the answer says so rather than guessing.
Substack is a digital publishing platform that enables independent writers and creators to launch, distribute, and monetize subscription newsletters. It provides integrated tools for payments, analytics, and social discovery to help creators build sustainable media businesses.
Company Profile
CEO
Chris Best
Founded
2017
HQ
San Francisco, CA
Employees
~150
Total Raised
$190M
Est. Revenue
$45M (2025)
Growth
Up 23% in 2024; projected reaching $45M ARR in 2025.
Last Round
Series C — $100M (Jul 2025) · Lead: BOND
IPO Status
private
Fundraising Status
Series C · $100M · 1y 1mo ago
privateTotal raised $190M
Secondary Market
Implied price / share
$29.02
Last round price / share
$34.14
vs last round
-15.0%
Open interest
4
Last round price vs secondary price
Secondary price return by period
Implied per-share price from private secondary transactions, as of Jun 2026. This is a point estimate, not a quote — the feed carries no bid, ask or spread, and a secondary print is evidence of what someone paid on that date rather than a live market. Compare across every tracked name →
Latest Funding Round
Round
Amount
Date
Lead Investor
Post-Money
Series C
$100M
Jul 2025
BOND
—
Talent Signal
Hiring trend
● First snapshot
trend accrues with monthly sweeps
Open roles
13
via ashby
Product-build share
23%
engineering, research, product, design
Trajectory
steady
go-to-market push — Only 23% of open roles build product — hiring is concentrated in sales/marketing/ops (5 of 13 open roles are sales).
Actively hiring with no tracked executive churn.
Open roles by month
Open roles by function
■ product-building ■ go-to-market / G&A
Full Stack Software Engineer - CommunityProduct Manager - CreatorProduct Manager - GrowthHead of Business, Tech & Finance Partnerships Head of Creator MarketingGrowth Marketing Manager
Counted from Substack's live job board as of 2026-08-17; role functions classified from posting titles. Open-role counts are an activity signal, not headcount. Refreshed monthly.
Founders & Key People
Chris BestHamish McKenzieJairaj Sethi
Investors
a16z · Y Combinator · Skip Capital · BOND · TCG Ventures · Index Ventures · Fifty Years · NewView Capital
Products
Substack Newsletters
Substack Notes
Substack Chat
Substack Video
Podcasts
Substack App
Competitors
Beehiiv · Ghost · Patreon · Medium · Kit
Creator EconomyPublishingNewslettersSubscriptionsSocial Media
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2025-Q3. Refreshed quarterly.