Substack has 3 close competitors: Patreon, Ghost, OnlyFans.
Sector, valuation and status for each competitor.
A private valuation and a public market cap share one column; each row names its basis and date.
Substack
Patreon
GhostAmerican platform providing publishing, payment, analytics and design infrastructure for subscription newsletters, podcasts and video, based in San Francisco.
Substack competes with 3 companies here: Patreon, Ghost, OnlyFans.
Substack was last valued at $1.1B (post-money, Jun 2025). That price was agreed in one transaction and holds until the next round. A listed competitor is repriced every trading session.
Lead investors for each round are in the funding timeline.
The closest newsletter / subscription publishing platform peers are on the competitors page.
The routes section explains what is realistically available for a company at this stage.
No. Substack is a private company; its shares do not trade on a public exchange.
Perpetual markets for stocks, gold, indices and pre-IPO names — settled on-chain, no wallet-to-exchange transfers.
