- conflicts or gaps
- [{"employee_count_discrepancy": {"value": "Company states 100+ employees; YC lists 90; third-party aggregators (LinkedIn, Revelio, Tracxn) report 2K–4K, likely conflating platform creators with staff.", "source_urls": ["https://substack.com/jobs", "https://www.ycombinator.com/companies/substack", "https://linkedin.com/company/substack", "https://www.reveliolabs.com/companies/substack/employees/", "https://tracxn.com/d/companies/substack/__p24iniy6ZkhjH1kHKlzDUc3zpmnVgDfLZNx8RkxXs2I"]}, "total_funding_discrepancy": {"value": "Tracxn totals $190M over 6 rounds; Axios/Reuters cite ~$200M; CB Insights lists $200.23M over 8 fundings.", "source_urls": ["https://tracxn.com/d/companies/substack/__p24iniy6ZKhjH1kHKlzDUc3zpmnVgDfLZNx8RkxXs2I/funding-and-investors", "https://www.axios.com/2025/07/17/substack-newsletter-funding-creator-economy", "https://www.cbinsights.com/company/substack/financials"]}, "series_a_amount_discrepancy": {"value": "TechCrunch/Axios report $15.3M Series A (Jul 2019); Tracxn lists $19.1M for same period.", "source_urls": ["https://techcrunch.com/2019/07/16/substack-series-a/", "https://tracxn.com/d/companies/substack/__p24iniy6ZkhjH1kHKlzDUc3zpmnVgDfLZNx8RkxXs2I/funding-and-investors"]}, "hamish_mckenzie_title": {"value": "Listed as Founder/COO on YC and in 2019 press; listed as Co-founder and CWO on company jobs page.", "source_urls": ["https://www.ycombinator.com/companies/substack", "https://substack.com/jobs", "https://techcrunch.com/2019/07/16/substack-series-a/"]}, "revenue_data_stale": {"value": "Wikipedia cites $9M revenue (2021); CB Insights shows 2022 revenue $9M with most recent revenue from 2020; no authoritative public 2024–2025 revenue disclosed.", "source_urls": ["https://en.wikipedia.org/wiki/SubStack", "https://www.cbinsights.com/company/substack/financials"]}, "profitability_unknown": {"value": "CEO stated not planning profitability soon (June 2025); no audited financials publicly available.", "source_urls": ["https://betakit.com/canadian-co-founded-substack-raises-100-million-usd-series-c-to-grow-tools-for-independent-creators/"]}, "content_moderation_controversy": {"value": "Platform criticized for loose moderation; some creators departed over extremist content policy (2022–2024).", "source_urls": ["https://en.wikipedia.org/wiki/SubStack"]}, "failed_2022_series_c": {"value": "Abandoned $75M–$100M Series C attempt at $750M–$1B valuation in May 2022 before later 2025 Series C close.", "source_urls": ["https://techcrunch.com/2023/03/28/substack-opens-up-a-2-million-community-fundraising-round/"]}, "wefunder_pledge_vs_closed": {"value": "TechCrunch reported $6.7M in Wefunder pledges vs $2M goal (Mar 2023); Tracxn records $3.29M raised May 2023 — final closed amount unclear from primary sources.", "source_urls": ["https://techcrunch.com/2023/03/28/substack-opens-up-a-2-million-community-fundraising-round/", "https://tracxn.com/d/companies/substack/__p24iniy6ZkhjH1kHKlzDUc3zpmnVgDfLZNx8RkxXs2I/funding-and-investors"]}}]
- source urls
- ["https://betakit.com/canadian-co-founded-substack-raises-100-million-usd-series-c-to-grow-tools-for-independent-creators/", "https://en.wikipedia.org/wiki/SubStack", "https://fortune.com/2019/07/16/andreessen-horowitz-substack/", "https://goldhouse.org/people/jairaj-sethi/", "https://khaby.ai/deals/substack-series-b-2021/", "https://linkedin.com/company/substack", "https://on.substack.com/p/a-business-model-that-works-for-creators", "https://on.substack.com/p/investing-in-writers", "https://on.substack.com/p/live-video-is-available-to-all-publishers", "https://on.substack.com/p/publish-video-posts-directly-in-the", "https://post.substack.com/p/substack-series-c", "https://sacra.com/c/substack/valuation/", "https://substack.com/app", "https://substack.com/jobs", "https://techcrunch.com/2019/07/16/substack-series-a/", "https://techcrunch.com/2021/03/30/is-substack-really-worth-650m/", "https://techcrunch.com/2023/03/28/substack-opens-up-a-2-million-community-fundraising-round/", "https://techcrunch.com/2025/07/17/substack-raises-100m-from-chernin-group-andreessen-horowitz-skims-ceo-and-more/", "https://theinquisitivevc.substack.com/p/hamish-mckenzie-substack", "https://tracxn.com/d/companies/substack/__p24iniy6ZKhjH1kHKlzDUc3zpmnVgDfLZNx8RkxXs2I/funding-and-investors", "https://tracxn.com/d/companies/substack/__p24iniy6ZkhjH1kHKlzDUc3zpmnVgDfLZNx8RkxXs2I", "https://tracxn.com/d/companies/substack/__p24iniy6ZkhjH1kHKlzDUc3zpmnVgDfLZNx8RkxXs2I/funding-and-investors", "https://uwaterloo.ca/engineering/news/alumnis-startup-substack-raises-usd-100m", "https://www.axios.com/2019/07/16/substack-raises-new-funds-to-continue-fueling-the-newsletter-boom", "https://www.axios.com/2021/03/30/substack-andreessen-horowitz-newsletter", "https://www.axios.com/2025/07/17/substack-newsletter-funding-creator-economy", "https://www.cbinsights.com/company/substack/financials", "https://www.reuters.com/article/business/media-telecom/newsletter-platform-substack-raises-65-mln-in-andreessen-horowitz-led-funding-r-idUSL4N2LS4FY/", "https://www.reuters.com/business/media-telecom/newsletter-platform-substack-valued-11-billion-latest-funding-round-2025-07-17/", "https://www.reveliolabs.com/companies/substack/employees/", "https://www.shopify.com/blog/how-to-make-money-on-substack", "https://www.ycombinator.com/companies/substack"]