Media Fortune Fame & Folly

Substack raises $65m

Substack, host to newsletters created by respected journalists and small following enthusiasts alike, has successfully raised $65m in a latest fundraising round valuing the company at $650m. Substack was established in 2017 and raised approx $20m in 2019 with a valuation then of around $50m. Over 500k readers are now claimed to pay for a newsletter on Substack.