Substack Pauses Fundraising Efforts of Potential 100x Valuation (axios.com) 10
Substack stopped fundraising efforts for a round of $75 million to $100 million, the New York Times reported Thursday. Axios reports: The round could have valued the newsletter publication platform between $750 million and $1 billion. But the abandoned plans come amid the market's cooling and layoffs among other tech firms. NYT reported that Substack told investors its 2021 revenue was about $9 million. That means its potential valuation of $1 billion would have been 100x its revenue. Substack touted in November that it has more than 1 million paid subscriptions and that its top 10 writers collectively generate $20 million in annual revenue. But only a fraction of that contributes to Substack's bottom line.
What is the value of a mailing list? (Score:2)
Because ultimately, substack is a centralized website based mailing list. You subscribe to a person, and in return you get access to their newsletter.
I would guess that value is equivalent to quality and quantity of people you have on it, and their ability to attract paid subscribers. It's fundamentally something similar to early newspapers, where there was one or two writers and primary funding comes from subscribers who want to read what specific reporters want to report on.
Be it local news or specialist
It's probably the same value as McDonald's (Score:1)
It wasn't till recently that I fully grasped the scale and truth of the phrase a suckers born every minute. There are multiple billionaires and hundreds if not thousands of multi-millionaires who's only job is to build people out of their money using a wide variety
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Here are the top 40 substacks according to someone on Medium (use incognito mode if you can't read that article). https://medium.com/feedium/top... [medium.com]
I'm not saying saying you're wrong. I haven't read all of them. But frankly, it looks like it's a mixed bag. There is plenty of junk that is both left wing and right wing, including stuff on economics and cryptocurrency.
Also, I agree with the revenue aspect. They're mostly burning money right now. It's a very competitive space. And they weren't the first ones to
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I'm not so sure that's how early newspapers worked, depending on what you mean by "early". I don't think the phenomenon of the celebrity reporter started until the 20th century. I mean sure, people picked up the local paper to see what Mencken and Ernie Pyle had to say, and maybe going back to Nellie Bly, but I'm
Re: What is the value of a mailing list? (Score:1)
Dick Tracy as fiction is as true today, two way cellular like my Apple Watch âOEsï
Real value in comic franchises exceeds Ernie Pyle, Jimmy Breslin et al
Mencken is the only one to really impact today, as he really nailed it alongside contemporary Abrose Bierce, with Mark Twain much more humorously adding the final punches!
Not enough dead spammers (Score:2)
Being a spammer is not enough of a health hazard, and they still get paid. Have you told a spammer to FOAD today?
Going to be a lot of carnage in this market (Score:1)
When I found out that Gab is able to offer a site that works very well for several million users, providing a dangerously close to Facebook level of features (even if they're not as well-implemented) using about 9 full time engineers and their CEO, it really hit me how screwed a lot of these businesses are with their thousands of employees who deliver... what?
I mean FFS, look at what Substack does. That is something that should be doable with a team of a few dozen technical employees working 40 hours a week