Substack says it could be profitable — but it still isn’t
Illustration by The Verge
Substack still isn’t profitable despite attracting big names in the independent writer world, whose newsletters and blogs rake in a massive digital subscriber base for the platform. Hamish McKenzie, one of Substack’s founders, told The New York Times that it could choose to be profitable but is focusing instead on “investing in and continuing to grow the business.”
According to the Times, X owner Elon Musk offered to acquire Substack during a phone call with its CEO, Chris Best, in April 2023.
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