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Substack
UnknownSubstack Inc.
Founded 2017
Subscription network for independent writer and creators
Post-money valuation ⓘ
$593.0M
As of Apr 2023 · from SUBSTACK Preferred Stock 1 · pre-money + amount raised, not a traded price
Total raised
$4,520,842
Across 1 round since 2023
Latest share price
$26.2871
SUBSTACK Preferred Stock 1 offering price
Financials
FY2021–FY2022 · from SEC filings · hover any figure for its source$1.5M
−$2.3M
2021
−$5.2M
−$22.9M
2022
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2021
FY2022
Income statement
Revenue
$1,454,052
-$5,167,975
Cost of goods sold
$414,868
$1,399,728
Gross margin
71%
—
Net income
-$2,320,785
-$22,876,537
Taxes paid
$0
$0
Balance sheet
Cash
$15,279,360
$55,386,969
Accounts receivable
-$2,136
-$54,165
Total assets
$16,467,233
$62,667,814
Short-term debt
$2,695,391
$6,635,026
Long-term debt
$0
$0
Total liabilities
$2,695,391
$6,635,026
Other
Headcount
—
76
Figures as reported by the issuer in the filing shown on hover. Each year’s pill shows the assurance level of its filed statements — audited, reviewed (CPA review, less than an audit), or unaudited; no pill means the filing didn’t state one. Headcount is the filing’s point-in-time count, not a year-end average. Manually corrected figures are marked “Corrected”.
Valuation over rounds
Post-money = pre-money + amount raised · caps marked$593.0M
post-money
SUBSTACK Preferred Stock 1
A dashed amber step is a SAFE/note valuation cap — a conversion ceiling agreed for that instrument, not a priced valuation of the company. Steps are not comparable across bases.
Fundraising history
Raised $4.5M / $5MInvestors 6,923Post-money $593M
Reg CF annual-report compliance
Delinquent
Filed 0 of 3 annual reports (FY2023–FY2025)
Missing: 2023, 2024, 2025
6,923 investors
holder-count proxy
Reg CF issuers must file a Form C-AR each year until a Rule 202(b) termination trigger is met.
SEC filings
Source: ManualCIK 0001783191Share price $26.2871
About this data. Figures are compiled from public sources — SEC EDGAR filings (Form C, C-AR, 1-A, 1-K) and funding-platform pages — and may be delayed, incomplete, or restated by the issuer. Financial statements are as reported by the issuer; each year is labeled with its assurance level (audited / reviewed / unaudited). A valuation cap is the conversion ceiling of a SAFE or convertible note, not an agreed company valuation; post-money figures are computed as pre-money plus amount raised and are not a traded price. Crowdonomics is not a broker-dealer, funding portal, or investment adviser; nothing here is investment advice or an offer to sell securities. Verify all figures against the linked EDGAR filings.