Creator platform Patreon valued at $ 4 billion in latest funding round By Reuters

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© Reuters.

(Reuters) – Patreon Inc, a platform that allows artists to seek financial sponsorship from their fans, said it was valued at $ 4 billion in its latest round of funding, more than triple the number in September last year. The San Francisco, California-based company raised $ 155 million in the new round led by new investor Tiger Global Management, with participation from Woodline Partners and previous investors Wellington Management, Lone Pine Capital, New Enterprise Associates, Glade Brook Capital. and DFJ Growth. In the previous funding round, Patreon had raised $ 90 million, which was reportedly valued at $ 1.2 billion at the time. (https: // The company, which connects creators, including musicians, writers, journalists, and podcasters with fans while monetizing their work for a monthly fee, plans to use the fund to develop new creator tools, potential acquisitions, and expand its Patreon, Founded in 2013 by two YouTube creators, it grew in popularity over the past year as more creators mixed content to appeal to audiences trapped at home during the COVID-19 pandemic. As a neutral platform, Patreon allows artists to stay away from advertising -Reliable business models and have more creative freedom. The growing reception of the model is resonant with the emergence of platforms like Substack, which allow writers to start their own paid newsletters and generate readers. Patreon is considering a public listing this year and has been approached by special purpose acquisition companies (SPAC), reported The Information in Jan or. (https: //

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