Report: Substack, the highly hyped newsletter platform, has ditched plans for a Series C

Substack, the five-year-old newsletter platform that has aggressively positioned itself as a disruptive force in media, has abandoned efforts to raise a Series C round, the New York Times is reporting today.  According to its sources, Substack held discussions with potential investors in recent months about raising $75 million to $100 million at a valuation of between $750 million and $1 billion.
Substack, based in San Francisco, was most recently valued at $650 million by its investors after closing a $65 million Series B round in March of last year led by earlier investor Andreessen Horowitz

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