Entertainment
Substack Asks Its Newsletter Writers to Become Investors Starting at $100
Chris Best, co-founder and CEO of Substack.
Photographer: Stephen McCarthy/Sportsfile/Getty Images
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Substack Inc., the online host of writers like Kareem Abdul-Jabbar and Matt Taibbi, is inviting contributors to become investors as the newsletter publisher looks to continue its growth in a tough market for fundraising.
The San Francisco-based company is letting its authors put in as little as $100 for shares. Co-founders Chris Best, Hamish McKenzie, and Jairaj Sethi said in a blog post Tuesday that recent regulatory changes allow businesses to tap more money from less-wealthy investors, a move they see as advantageous to the company.