Odaily Planet Daily News: Substack, a paid content subscription platform, recently completed a $100 million financing, with the latest valuation reaching $1.1 billion. This round of financing was led by BOND and Chernin Group, and participated by Andreessen Horowitz, Klutch Sports Group founder Rich Paul, and Skims Body Inc. co-founder Jens Grede.
Substack was founded in 2017 and has been supported by well-known investment institutions including Andreessen Horowitz (a16z), Y Combinator, and Fifty Years. Currently, the number of paid subscribers has exceeded 5 million, and it has expanded to content formats such as podcasts and videos. (Bloomberg)