Patreon

How it happened

Patreon is a membership business platform enabling content creators to build their own communities. Video creators, podcasters, visual artists, and musicians can produce content specifically for their audiences and bring in revenue. Last valued near $3.99B (Series F, 2021); on the secondary market its implied valuation slipped below the $1B unicorn line in Sep 2024, and now sits around $865M — roughly 78% below that peak.