Patreon Inc. is an online platform that connects musicians and other creators with fans. It is valued at $4 billion in the latest round of investments. Since September, due to venture capitalists betting on content creators The value of start-ups has tripled in market value.
Patreon said it raised US$155 million in the latest round of financing, led by new investor Tiger Global Management, Woodline Partners and several earlier investors including Wellington Management, Lone Pine Capital and New Enterprise Associates. among them.
Tiger Global, a New York-based investment company, has recently become one of the most active technology investors. Recent investments include online sneaker distributor StockX LLC, automation software company UiPath Inc., Brazilian real estate company Loft Holdings Ltd. and British financial technology startup Checkout Ltd.
Facts have proved that the Covid-19 pandemic is a catalyst for the so-called creator economy, which faces event cancellation, blockade and other measures to curb the spread of the virus. During the pandemic, online platforms such as Patreon, Baron App Inc.’s Cameo and Fenix International Ltd.’s OnlyFans have become winners, people seek entertainment, and artists and creators are also looking for ways to continue working and making money.