Founded in 2013, Patreon has amassed over $400 million in funding, and attained a widely reported $4 billion valuation. The platform’s business model is refreshingly simple: self-employed content creators need a way to earn a steady income, and Patreon provides just that. In theory, creators create Patreon accounts to give fans bonus content in exchange for financially supporting them via paid monthly memberships. The creators get to pad their bank accounts, and Patreon takes a 5% monthly fee of the earnings.
Patreon has incurred criticism in recent years centered around censorship. The platform has become known for hosting a large number of adult content creators, and company execs are seen as either too lax or too strict on those NSFW accounts.more » « less