Patreon Considers Public Listing as Soon as This Year

Patreon, the online service that allows podcasters, musicians and other artists to receive direct financial support from fans, is considering a public listing as soon as this year, said a person with knowledge of discussions. The San Francisco startup has met with banks and has been approached by special purpose acquisition companies, though the latter path to the public markets isn’t Patreon’s preferred route, the person said.

The talks follow a stretch of rapid growth for the seven-year-old company. Demand from customers stuck at home during the pandemic has roughly doubled business year-over-year in recent months, said the person. Patreon recently passed $100 million in annualized revenue, a metric that multiplies its monthly revenue by 12, said a second person familiar with the startup. That trajectory has placed it in the company of other services that enable people to pay artists and other creators, often through subscriptions, which have gained ground during the pandemic. These include newsletter provider Substack and adult entertainment site OnlyFans.