|Headquarters Regions:||San Francisco, California, United States|
|Founded Date:||May 2013|
|Founders:||Jack Conte, Sam Yam|
|Number of Employees:||600+|
|Area served:||United States of America|
|Products of Company:||membership platform|
|Net Worth in 2023:||$12 Billion|
Sam Yam and Jack Conte founded Patreon in May 2013. It is a way to make a living by posting YouTube videos. It is a platform that is American-based that provide tools for the creators in YouTube to run a subscription service. It helps them in earning monthly income through rewards and perks which are provided to their subscribers. It allows them to receive funding directly from their fans for their work. The content creators earn their source of income by charging a commission of 5 to 12% from their fans or patrons directly.
Before Patreon was created, there was hardly any source of income for the creators. But once this platform was built, every creator got their reasonable amount of revenue for creating their various types of art. It acts as a medium of connecting the creators with their fans. It provides its creators the financial support and its subscribers with rewards. It is a legitimate site with real creators providing content and earning money.
Well, how well do you know about Patreon? If not much, we have compiled all you need to know about Patreon’s net worth in 2023, wiki and complete details. Well, if you’re all set, here is what we know about Patreon to date.
Sam Yam and Jack Conte, who are the founder of the company had faced many problems when they started this platform. Jack was a musician, and he makes YouTube videos. He wanted to earn money from his channel on YouTube. So, he teamed up with Sam, and he decided to create a platform named Patreon which would help the struggling artist to upload their videos, and in exchange for their art, they would earn a fixed amount of money from their fans or the patrons.
Within one year after Patreon was created, they got around 2.1 million dollars from their investors and capitalist who invested their money in their company. In series A round, Patreon collected 15 million dollars in 2014. This was led by Danny Rimer. In the series B round, Patreon collected 30 million dollars in 2016. This was led by Thrive Capital. In the initial years, the company faced a significant risk and was the victim of a cyber attack. This attack was very harmful as it hacked the company’s millions of unique id and their email address.
The hacker even charges Bitcoins in exchange for providing back the information, which resulted in a considerable loss. The company overcame this situation by changing its safety measures and adding more security to it. It was because of the quality of service that the company is providing to the public, and therefore they are now building their empire in the market so well, and because of that, they have held a strong position in the market and also among their competitors as well.
In July 2016, after the cyberattack, Patreon adopted various safety measures. They made changes for the creators. Those who are working under adult-oriented were put under the category of creators “Not Safe For Work” and asked their patron to pay through PayPal via to their creators. This created a smooth payment which was easier than what was paid previously through credit cards. This even increases the money the creators got for their work. The company was a huge knock-off. It started growing rapidly with more than 50,000 active creators.
Patreon has made many improvements in them such as CRM system, a mobile app, lens and even ran a membership business. This led to an increase in the numbers of Patrons and also the amount that was to be paid to the creators for their work. The company still did not give up all the problems, and instead of that, they have now held their heads high in the market as they were able to learn from their mistakes. This is the reason they are so strong when it comes to the field of business.
Patreon has received no awards and achievements to date. But the growth of the company has rapidly changed over the years. It has more than 50,000 active creators who earn around 150 million dollars from its 1 million patrons. This number keeps on changing from time to time. It was all because of the work of Sam Yam and Jack Conte that Patrone received a huge success.
They are still working on increasing their productivity and efficiency. Although it has not won any awards, it always has created a more efficient way for the creators to earn money. Before it was created, there was no certainty of earning money. But this acts as a bridge to join the gap between creators and their subscribers.
Net Worth & Earnings of Patreon in 2023
Patreon, a platform that lets the creators earn money from their fans through subscriptions, has raised nearly about 90 million dollars as per the current date. As of 2023, It is a seven-year-old company whose total valuation is $12 billion dollars, and its even planning to expand it internationally. The company has never disclosed its valuation. The co-founder gives much credit to their creators for Patreon being a huge success. Over the years, they have worked hard to increase their finance. There are millions and millions of fans who are following their creators on this platform.
Some Interesting Facts You Need To Know
Patreon has more than 200,000 creators on its platform.
Patreon takes 5% of the amount paid to its creators as its fees.
Top accounts on Patreon are Global++, The Together Team, Brandon Stanton, etc.
There are ups and downs in everyone’s life, but the main thing is that brave is he who meets them and then tries to work on their problems, and thereby they can increase their outcome. Sam Yam and Jack Conte are one of the best examples of this statement.
As they faced many past difficulties, they have still rectified them, and they are thereby working on their potential to increase their productivity and thereby also gaining much more popularity. They are vibrant not only by their actions but also by heart as they leave a mark over the youth and other generations of becoming a professional creator. They have never stopped themselves from facing problems overcoming failures, and accepting the success.