Substack, a publishing platform recognized for its e-newsletter service, introduced this week that it had crossed the two million paid subscription mark. Given the wealth of historic information we now have in regards to the development of paid subscribers at Substack, the quantity bought our consideration.

Substack’s easy enterprise mannequin additionally makes it doable to generate a number of gross transaction quantity and income guesses for the corporate, which we’ll discover.

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First, somewhat context: Substack’s first recognized exterior capital got here in January 2018 by way of the Y Combinator startup accelerator. The corporate raised a $2 million seed spherical in April of the identical 12 months. From there, the startup’s skill to boost new funds rapidly accelerated, with Andreessen Horowitz main Substack’s $15.3 million Collection A in mid-2019 and an enormous $65 million Collection B in March 2021.