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media/telecom

Substack Financial Statements Show Massive Losses

By
Martin Peers
· · Source: The Information

Substack, the publishing platform, burned through roughly $25 million in cash in 2021, newly disclosed financial statements reveal, reflecting the expansion undertaken that year after Substack raised $65 million in a fundraising. In 2020 Substack had burned through just over $1 million. Substack’s financial statements were filed with the SEC just a couple of weeks after the company began...

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