Substack is an online platform that allows writers and creators to send digital newsletters directly to subscribers. The company provides tools for authors to create and manage their newsletters, including analytics, payment processing, and design features. Substack operates on a revenue-sharing model, where creators can offer free or paid subscriptions, and Substack takes a percentage of the paid subscriptions.

Substack

ZORA is a platform that allows users to post content for fun and earn rewards in real-time, self-described as an avenue for creators to monetize their work.

ZORA

FolkFunding is a Benefit Company established in 2013 that focuses on crowdfunding, community building, and corporate social responsibility. It provides innovative consulting services and platforms for community management, as well as data intelligence solutions.

FolkFunding

No Code Founders is a community that provides resources and courses to help individuals build online businesses without coding. It offers access to tutorials, guides, and networking opportunities for founders.

No Code Founders

Substack lets writers connect with their audience on their own terms and earn money doing it. We make it simple for writers to publish to an email list that they own, get discovered on the web, and charge for subscriptions.

More than 500,000 people pay to subscribe to writers across the Substack network, and the top writers make millions of dollars a year. Substack’s model depends on the success of writers using Substack – we only make money when they do.

“Substack makes it dead simple to start a newsletter and get paid for it.” – Judd Legum, author of Popular Information

"Substack gives me a way to connect with my audience on my own terms.” – Lyz Lenz, author of God Land and Men Yell At Me

Make something that matters
Great writing is valuable. It respects readers' time, their intelligence, and their trust. It helps us make sense of and change the culture we live in. At Substack, we're building a business model that enables great writing to thrive. Learn more about our opportunity and mission. 

We are a small but growing team, and there is more to build than we could ever imagine. That’s why we need you. 

We aim to take pragmatic approaches to problem solving while shipping high-quality products that allow the writing on Substack to take the spotlight. 

Every person at the company participates in customer support. We do this to build empathy with our users and enable us to build better products.

We believe that a diverse team will help us build a product that best serves the needs of a wildly diverse ecosystem of writers. So whatever your background or perspective, we’d welcome your input to help build the best possible version of Substack.

Metric
Company Name	Substack	ZORA	FolkFunding	No Code Founders
Symbol
MSH ID	COM:SUBSTACK	CO:ZORA	COM:FOLKFUNDING	COM:NOCODEFOUNDERS
Market	PRIVATE	PRIVATE	PRIVATE	PRIVATE
Sector	Technology	Technology	Commercial & Professional Services	Commercial & Professional Services
Industry	Digital Publishing	Social Media	Fintech and Social Impact	Education Technology
Country	US	US	IT	US
Stage		Venture Round
Employee Count	1.08K
Website	substack.com	zora.co	folkfunding.com	nocodefounders.com
LinkedIn	substack	ourzora
Founders

Metric
Market Cap	14.00B
Enterprise Value
Monthly Web Traffic	85.80M	2.96M	111.63K
Web Traffic Growth	0.01	2.15	-0.36
Valuation
Raised Capital		2.62M

Metric
Revenue
Revenue (LTM)
Revenue (NTM)
Gross Profit
EBITDA
Operating Income
Net Income
EPS
Diluted EPS
Revenue 2022
Revenue 2023
Revenue 2024
Revenue 2025
Revenue 2026

Metric
Revenue Growth (LTM)
Revenue Growth (NTM)
Gross Profit Growth (LTM)
EBITDA Growth (LTM)
Net Income Growth (LTM)
14-Day Growth Score
28-Day Growth Score
90-Day Growth Score
365-Day Growth Score

Metric
Gross Profit Margin
Operating Profit Margin
EBITDA Margin
Net Profit Margin
Return on Equity
Return on Assets
Return on Capital Employed

COM:SUBSTACK

Substack

Company Overview

Market Metrics

Financial Performance

Growth Metrics

Profitability Ratios

Valuation Multiples

Operational Metrics

Cash Flow Metrics

Balance Sheet Metrics

Efficiency Metrics

Metric
P/E Ratio
P/B Ratio
Revenue Multiple (LTM)
Revenue Multiple (NTM)
EBITDA Multiple (LTM)
EBITDA Multiple (NTM)
Price to Sales Ratio
EV Multiple

Metric
Days Sales Outstanding
Days Payables Outstanding
Days Inventory Outstanding
Operating Cycle
Cash Conversion Cycle
Asset Turnover

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Operating Cash Flow
Free Cash Flow
Cash Flow to Debt
Operating Cash Flow/Sales
Free Cash Flow Yield

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Cash & Equivalents
Accounts Receivable
Inventory
Goodwill
Debt to Capitalization
Debt to Assets
Current Ratio
Quick Ratio

Metric
Rule of 40 (LTM)
Rule of 40 (NTM)
Stock Comp to Revenue
R&D to Revenue
SG&A to Revenue