Patreon is now generating more than $100m in annualised revenues, according to a new profile of the company by tech site The Information. That means it’s currently generating more than $8.3m a month, which would be $100m a year, rather than that it made $100m in its last financial year.
Still, this milestone may be a springboard for Patreon to go public in 2021, with the article claiming that the fan-funding company is “considering a public listing as soon as this year… has met with banks and has been approached by special purpose acquisition companies, though the latter path to the public markets isn’t Patreon’s preferred route.” Special Purpose Acquisition Companies, or SPACs, have been an increasingly popular way to go public in the US recently.
In its submission to the UK’s streaming economics inquiry, which was published yesterday, Patreon said that it now has more than 200,000 creators using its platform, and that they have collectively earned more than $2bn since its launch in 2013.
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