How to Invest in Patreon Stock in 2024

Patreon was launched in 2013 to help creators monetize their work. 

Today, more than 250,000 creators are selling subscriptions and digital products to over 8 million “patrons” on the platform.

In total, over $8 billion has been paid out to creators since 2013. And Patreon has taken a cut of every transaction.

Patreon is free to use, but keeps 5%, 8%, or 12% of every dollar earned, depending on what plan the creator selects. Additionally, it charges payment processing fees between 2.9%–6%, depending on the payment method.

Assuming creators are making $2 billion per year on the platform, Patreon is likely generating more than $200 million in annual revenue.

Read on to learn how you can invest in Patreon.

Can you buy Patreon stock?

Patreon is a private company, not a public company. There is no Patreon stock symbol and no way to buy it on the public markets.

However, its stock is available on Hiive, an investment platform where accredited investors can buy shares of pre-IPO companies from existing shareholders.

Accreditation requirements

To qualify as an accredited investor, you must meet one of the following criteria:

• Have an annual income of $200,000 individually or $300,000 jointly.
• Have a net worth that exceeds $1,000,000, excluding your main residence.
• Be a qualifying financial professional.

At the time of this writing, there are 21 orders of Patreon live on Hiive:

Sellers may be current or former employees, venture capitalists, angel investors, or any other shareholder. Each seller sets their own asking price and quantity of shares available.

Once listings are active, buyers can accept sellers' asking prices as listed or place bids. Buyers can also add companies to their watchlists and get notified of any new listings or transactions.

There are over 2,000 private companies with shares available on Hiive, including SpaceX, Starlink, and OpenAI.

You can get started by creating an account with the button below:

Register for Hiive

Can retail investors buy Patreon stock?

Since Patreon is a private company (and Hiive is only for accredited investors), there's no way for retail investors to buy its stock.

But you may be interested in investing in other companies in the creator economy.

Patreon's biggest competition is from other subscription platforms, like Substack, and digital content platforms, like Podia, Gumroad, Kajabi, and Teachable. 

Unfortunately, all of these companies are also privately owned.

The best options for stocks related to the creator economy are social media platforms and e-commerce platforms:

• Alphabet (GOOGL) is the parent company of Google and YouTube. YouTube is the driving force behind much of the digital creator economy, and paid out more than $70 billion to creators and media companies between 2021 and 2024.
• Meta Platforms (META) owns Facebook, Instagram, and Threads, which are all prominent platforms used by the world's biggest creators.
• Snapchat (SNAP) has a growing creator ecosystem, primarily via its Spotlight feature. Spotlight lets creators earn money through viral content. 
• Shopify (SHOP) is a platform that allows anyone to easily set up their own digital storefront and sell physical and digital products.
• Etsy (ETSY) provides a place for artisans to sell their products online, perfect for creators who are known for their handmade goods. 

While none of these companies are offering a similar service as Patreon, they do offer exposure to the industry if you're bullish about the future of the creator economy.

Still, you may want to wait for Patreon's IPO.

When will Patreon IPO?

In October 2021, buoyed by the pandemic, Patreon indicated that an IPO was on the table and could happen by the end of the year.

However, the IPO market cooled shortly thereafter, and the company chose to raise another round from the private markets.

It was still able to capitalize on its pandemic-fueled growth, raising $155 million at a valuation of $4 billion in its Series F — almost 4x higher than the $1.2 billion valuation it received just seven months earlier.

Patreon has been considering going public again since 2022, but its valuation has fallen 70% from the $4 billion valuation it earned in 2021 due to slowing growth and multi-million dollar content deals not panning out.

It's unlikely the company will go public before it can command a similar valuation from the public markets.

When it does go public, you'll need a brokerage account. If you need an account, see our article on the best brokerage accounts in 2024.

Who founded Patreon?

In May 2013, musician Jack Conte was looking for a way to make a living from his YouTube videos.

Conte partnered up with his friend Sam Yam, a developer, to create a new platform that allowed “patrons” to pay a set amount every time an artist created new work.

The idea caught fire.

Within 18 months, more than 125,000 patrons had signed up and were paying creators over $1 million per month. Patreon had also drawn interest from investors, raising $2.1 million in August 2013 and another $15 million in its Series A in June 2014.

But that was only the beginning. The next milestones were:

• January 2016: $30 million raised in its Series B
• January 2017: Crossed $100 million paid out to creators
• September 2017: $59.4 million raised in its Series C
• July 2019: $60 million raised in its Series D
• September 2020: $90 million raised in its Series E
• April 2021: $155 million raised in its Series F
• December 2021: Over $3.5 billion paid out to creators 

As of November 2024, more than 8 million patrons are supporting over 250,000 creators each month, and over $8 billion has been paid out to creators.

How much is Patreon worth?

Despite continuing to add new patrons and new creators — and increasing revenue — Patreon's current valuation is still lower than the $4 billion it received in early 2021.

In fact, an internal valuation in October 2022 valued the company at $1.5 billion.

Here's a look at Patreon's valuation history:

Note: The $1.5 billion valuation in October 2022 was from an internal report, not a funding round.

Patreon has raised a total of $412.1 million over 10 rounds from 31 investors.