Is Substack’s community financing round a good deal? Analyzing its valuation and valuation multiple vs. competitors ConvertKit, beehiiv, and Medium

Substack recently started raising a community-based financing round from its writers and other fans. It initially targeted $2M and, after seeing significant interest, upped the goal to $5M. As of this writing, it has received commitments of $6.8M from 5,973 investors.

Substack has believers.

But do the valuation and implied valuation multiple make Substack a good or bad deal? Using CB Insights data, we analyzed Substack’s valuation and valuation multiple vs. Substack competitors including:

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The post Is Substack’s community financing round a good deal? Analyzing its valuation and valuation multiple vs. competitors ConvertKit, beehiiv, and Medium appeared first on CB Insights Research.