Substack laid off 13 employees, roughly 14% of staff, citing a weak funding environment and a push to conserve cash.
SourcePublic company, workplace, funding, and market signals
Updated Jul 30, 2026
Substack is a San Francisco-based creator publishing platform that helps writers, journalists, podcasters, video creators, and media companies build paid subscriber businesses with integrated publishing, payments, discovery, and community tools.
Primary product
Subscription publishing platform for independent writers and creators
Founded
2017
Headquarters
111 Sutter St, San Francisco, CA 94104, United States
Team size
2,000-3,000
Industry
Online Audio and Video Media
Sub-industry
Subscription-based publishing and creator media platform
Offices
12 jobs at Substack
Business model
Stage
Series C
Total raised
$208M
Latest round
Series C · Jul 2025
Latest amount
$100M
Jul 2025 · BOND and The Chernin Group
Nov 2024
May 2023
Mar 2021 · Andreessen Horowitz
Jul 2019 · Andreessen Horowitz
Apr 2018 · Fifty Years
Jan 2018 · Y Combinator
Leadership
Co-founder & CEO
Co-founder & Chief Writing Officer
Co-founder & CTO
Sachin Monga
VP of Product
Lauren Schutte
Head of Partnerships
Mike Cohen
Head of AI & ML Engineering
Karim Damji
Chief Financial Officer
Investors
Mission-driven and creator-first, with an emphasis on writer ownership, direct audience relationships, autonomy, and high standards. Public messaging is strongly anti-ad-driven and pro-independent publishing, while recent hiring copy emphasizes collaboration, ownership, and building for creators.
Compensation
Public engineering postings describe market-competitive pay plus equity and exceptional benefits; one Substack systems-engineering posting listed a $185,000-$225,000 cash salary range, plus equity.
Benefits
Pricing
Free to start; Substack keeps 10% of paid subscription revenue after credit-card fees.
Differentiators
Technology
Customers
Competitors
Estimated revenue
$1M-$10M
Substack laid off 13 employees, roughly 14% of staff, citing a weak funding environment and a push to conserve cash.
SourceSubstack acquired People & Company to accelerate writer community-building and support programs.
SourceSubstack acquired Letter to help independent writers collaborate and build community infrastructure.
SourceSubstack acquired the team from Cocoon; Cocoon founders Alex Cornell and Sachin Monga joined as product and design leaders.
SourceCrunchbase lists Yem as a completed Substack acquisition.
Source404 Media · Jul 2026
404 Media reported backlash from some Substack writers and readers after the company launched AI-detection tools and transparency features around AI-assisted writing.
Axios · Jul 2026
Axios framed the new Pangram feature as part of Substack's push to make human authorship more transparent and valuable to subscribers.
The Substack Post · Jul 2026
Substack launched an AI-detection feature via Pangram for posts, notes, replies, and comments, along with creator disclosures like "How I make this."
Variety · Jun 2026
Substack expanded native sponsorships, connecting creators with brands such as Yahoo, Whatnot, Granola, Balenciaga, T-Mobile, Polymarket, and Uber.
TechCrunch · Jun 2026
TechCrunch covered Substack’s Reply Rules feature, which lets creators set community reply preferences and moderation rules across posts, Notes, and Chat.