Email newsletter platform Substack is inviting creators to invest in the company via its page at Wefunder.
The company says it is accepting investments of $100+.
However, the company adds that “just because you can invest in Substack, it doesn’t mean you should. Investments are risky.”
The company concedes, “The last round of funding, in March 2021, we explored how we might make it possible for a large group of writers to invest alongside the traditional investors, but it ultimately proved too complex. Most importantly, it was difficult to include people who were not already accredited investors—a qualification determined largely by wealth.”
But now Substack says it is “serious about building Substack with writers, and this community round is one way to concretize that ideal.”
The firm adds, “the dynamics of a platform like Substack change if the people who are building their businesses on it are owners of it too.”