Patreon is now worth $ 4 billion

This is what emerges from the latest round of funding obtained by the platform that allows creators to share, for a fee, with their fans exclusive content dedicated to them

(image: Patreon) Patreon, the platform that allows creatives to earn thanks to the support of their fans and supporters, has tripled its valuation to reach 4 billion dollars. The new valuation, explains the Wall Street Journal, is the result of the latest round of funding that allowed the platform to raise $ 155 million from Tiger Global's hedge fund.

Thanks to this latest funding and those brought in by previous investors - such as Woodline Partners, Wellington Management, Lone Pine Capital and New Enterprise Associates - the platform will now be able to leverage this assets to improve and invest.

In addition to launching its Italian portal, Patreon has become a refuge platform for creators who have been forced to stop their creative productions due to the coronavirus pandemic. Whether it's music, drawings, photographs, videos or texts, Patreon registered over 30,000 new users who signed up to the platform in March last year.

The cancellation of live events, fairs and exhibitions has forced many artists to fall back on platforms such as Patreon, Cameo and OnlyFans. These platforms host a variety of content that spans many topics and forms of artistic expression, and allow creators to sell their creative products by dedicating themselves in particular to their fans. In fact, Patreon owes its popularity to the so-called ADpocalypse, which hit YouTube in 2017 and forced many youtubers to create extra content dedicated to fans in order to earn (something that was limited by the Big G portal and its new video monetization policy).

The platform, which earns thanks to commissions ranging between 5% and 12%, had concluded the previous investment round of September 2020 obtaining 90 million dollars of capital and bringing its previous one valuation at $ 1.2 billion.


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Topics

Art Photography Internet Music Social media YouTube globalData.fldTopic = "Art, Photography, Internet, Music, Social media, YouTube "

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