Substack stock $23.20 USD
Private-market facts for current and former Substack employees researching their stock.
Price per share sourced from public secondary-market data. Updated April 2026. Indicative only — not a live quote.
Overview
Online publishing platform that enables writers, podcasters, and creators to publish subscription-based newsletters and build paid audiences directly.
Selling Substack shares
Why shareholders consider selling
Shareholders in Substack may explore liquidity for a number of reasons — diversifying a concentrated position, funding a personal financial goal, or simply reducing exposure to a single private holding. As a private company, Substack does not trade on a public exchange, meaning employees and early shareholders cannot simply sell through a brokerage. Extended private timelines can leave shareholders waiting years for an exit event, which is why some choose to explore secondary-market options.
Can you sell Substack stock?
Whether a shareholder can sell typically depends on what they hold and how it was acquired. Vested and exercised shares are generally more straightforward than unexercised options or unvested RSUs. Most private companies, including those in the Consumer & Social sector, impose transfer restrictions such as rights of first refusal or board approval requirements. The specific terms governing Substack shares would be outlined in the holder's equity agreement or the company's governing documents.
What affects the value of Substack shares?
The price a buyer is willing to pay for private shares is shaped by several factors: overall demand for the stock, the company's financial performance, broader Consumer & Social market conditions, and any recent private-market transaction activity. Data points such as the company's Series B round, its reported $1B valuation and recent secondary-market pricing can help frame expectations, though they do not guarantee a transaction price.
What should holders check before selling
- The type of security held (common shares, preferred, options, RSUs)
- Whether the equity is fully vested and, for options, whether it has been exercised
- Any transfer restrictions, lock-up provisions, or company approval requirements
- Estimated net proceeds after applicable taxes and transaction fees
- Whether partial liquidity — selling a portion rather than the full position — may be a better fit
Tools for Substack shareholders
Exploring equity in Substack often raises questions about taxes, exercise timing, valuation, and exit outcomes. These tools can help you model different decisions using your own assumptions.
Latest funding round
Substack most recently raised a Series B round . The company was valued at $1B. Total funding raised to date is approximately $86M.
Lead investors in this round include Andreessen Horowitz and Y Combinator.
Founders & company background
Substack was founded in 2017 by Chris Best, Hamish McKenzie, Jairaj Sethi and is headquartered in San Francisco, CA.
Investors
Industry
Similar private companies
Latest Substack news
Frequently asked questions
- Is Substack still a private company?
- Yes, Substack is currently a private company.
- What is Substack's latest funding round?
- Substack's most recent known round is Series B.
- What is Substack's valuation?
- Substack's latest reported valuation is $1B.
- Who are the investors in Substack?
- Notable investors include Andreessen Horowitz, Y Combinator, Tiger Global.
- Can I sell my Substack stock?
- Private company shares can sometimes be sold on secondary markets. Speaking with a specialist who understands Substack stock can help you evaluate your options.
Related pages
Last verified: 2026-04-13 · Substack data compiled from funding disclosures, investor announcements, corporate filings, and public records.
Information on this page is compiled from publicly available sources and may be outdated or incomplete. This is not investment advice. Consult a qualified advisor before making financial decisions.