Will's Blog: Substack raised $100M from the Chernin Group, a16z, and others, sources say at a $1.1B valuation, as it builds a social network and focuses on advertising (New York Times)

17 July 2025

Substack raised $100M from the Chernin Group, a16z, and others, sources say at a $1.1B valuation, as it builds a social network and focuses on advertising (New York Times)

New York Times:
Substack raised $100M from the Chernin Group, a16z, and others, sources say at a $1.1B valuation, as it builds a social network and focuses on advertising — Substack, originally a newsletter service, says its app now has millions of users interacting with its creators.

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