announced on Tuesday that one year after launch, 40,000 people had paid subscription fees and the site had pulled in $3.2 million in revenue.
In a post heralding the one-year anniversary of the worker-owned site, co-founder Tom Ley wrote, “As tempting as it was to empty our business bank account, fill an empty swimming pool with $3.2 million, and spend the last year swimming around in our riches, we instead decided to use our revenue to stand up a functioning, sustainable media company.”He added that money went to pay the 23 full-time employees of the company as well as to bolster the tech elements of the website.
Another $100,000 went to freelancers and contractors. In July of 2020, the company revealed that 10,000 people had subscribed on.
Read more on thewrap.com
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