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Beehiiv, the substack competitor, just doubled down on VC funding. It sold off more of its shares to raise an additional $33M, bringing the total to $45M. (Substack raised ~$85M from VCs and another $5M or so from a desperate “crowd-funding” campaign.
Neither will end well. The most likely end for both is failing to make enough $ to satisfy investors, selling to a big company and then seeing the service ruined/shuttered. See Revue and Twitter for a glimpse of the future
TechCrunch · Beehiiv attracts $32M to make its newsletter publishing platform more sticky | TechCrunchWith the number of people using e-mail globally approaching 5 billion, newsletters delivered regularly into people's inboxes continue to look like a
You never love going up against a war chest as a bootstrapped company (Outpost Publishers Cooperative), but in the long run, in this field, the Indies are gonna win