How Patreon Became A $4 Billion Start-Up

How Patreon Became A $4 Billion Start-Up | Founder Effect

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2 жыл бұрын

Jack Conte wasn’t some starving artist eking out a living when he landed on the idea for Patreon. He and his wife’s indie band called Pomplamoose was pulling in about $400K a year at its height. But after spending three months and maxing out his credit cards producing an intricate music video for the song Pedals, Jack found himself burned out, sitting alone, literally crying from exhaustion. He felt there had to be a better way for creators to get paid for their work. Today, Jack and his co-founder Sam Yam are weighing the cost-benefit of taking Patreon public.
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How Patreon Built a $4 Billion Platform To Pay Creative People | Founder Effect

Пікірлер: 211

@hans935 2 жыл бұрын

He has won the hearts of creators for the past years... And he just won it again.

@chapterme Жыл бұрын

Chapters (Powered by ChapterMe) - 00:00 - The story of Jack Conte 01:30 - Behind the scenes of the birth of patreon. 04:53 - How did you find your co-founder? 05:48 - Bootstrapping the company 07:24 - When did your content go live on Patreon? 07:33 - How Patreon works? 12:23 - Why not go public? 12:44 - How does that work with shareholders coming first over creators?

@YouveBeenPixeled Жыл бұрын

Sorry this is a bit of an old comment and I don’t know if a person even reads comments that this account receives but how does this chapterme thing work?

@mridulkanti1995 Жыл бұрын

Moral of the story : Hav atleast one engineer friend in your life sothat you can make a great startup with him.

@DanT-iu6oc 4 ай бұрын

Yup, know a smart engineer friend who will build your entire platform for you without asking for money. that's probably even harder than doing the startup itself lol

@Brodragon2225 25 күн бұрын

@@DanT-iu6oc now a days everyone can code and i think software startups are getting oversaturated

@loveleegiove 10 ай бұрын

WOW!!! This was a fantastic interview and conversation. I love the integrity I feel from Jack. Cool connection between these founders. Would be fun to hear more from Sam too. Super Inspiring. I would love to partner with Patreon.

@simongamez 2 жыл бұрын

I hope this guy can keep succeeding because he seems actually passionate and honest about his business, his interests and it's a passion and a purpose more than just making money.

@geraldbennett7035 Жыл бұрын

he is a fraudster, He cancels channels he does not agree with. A liberal punk.

@chidinmaikebujo8065 2 жыл бұрын

Jack is so passionate, and you can tell by the way he speaks. Love it!

@clementperdana290 2 жыл бұрын

Gosh, look at that passion.. I'm sold..

@kellyjohnally7880 Жыл бұрын

Loved everything about this interview

@katleholetlatsa7768 2 жыл бұрын

Love videos like this, truly inspiring

@resoluation345 Ай бұрын

So rare in my life seeing a founder this passionate about helping people

@JDNicoll Жыл бұрын

The question I want to know that answer to is how Pomplamoose was making $400K/year before Patreon. That's nuts.

@Adrian-lc6jq Жыл бұрын

You realise that was gross revenue right? not profit??? they have to pay for overheads like travels, flights, hotels, venue, security etc.

@thehondaboi 2 жыл бұрын

Keep these coming, they're great !

@danf4447 Жыл бұрын

this is what it sounds like right before someone goes public and sells out

@brandonwashington4422 Жыл бұрын

Lmfaoooo

@astronomicatx 4 ай бұрын

It's incredible to see how his personal experience with the challenges of being a creator led to the creation of a platform that has revolutionized the way artists get paid for their work. Now, as they consider taking Patreon public, it's a testament to the impact and growth of their vision.

@tvxfilmtime Жыл бұрын

I would love to see a Hulu series on him. Love what he is doing.

@moniquevamado 2 жыл бұрын

SO incredibly inspiring.

@esgee3829 2 жыл бұрын

12:05 patreon tried a couple of years ago to earn more per creator transaction but there was strong pushback...and now user growth is stalling across lots of social and other monetized digital platforms. all those other companies will be coming for patreon as they try to grow additional revenue streams (not just advertising or direct user subscription fees). it's time to go public now or go home.

@17teacmrocks 2 жыл бұрын

wait they made 400k a yr and his credit card max was 10k? that's way more than my monthly income but i have 150k in card credit. patron was such a godsend for creatives. I saw artists go from poor to 5 figures a month in stable recurring cashflows

@shairaptor1865 Жыл бұрын

Very nice video! I have a question - How do you deal with it, as a creator, when someone cancels their membership? I mean, it can be de-motivating and frustrating, if someone declines their support on your Patreon. It's not like new fans grow back just so! Or maybe they are? I think it's a constant run after new patrons and fans because people can cancel their pledge and you have to make new patrons faster than some other Patrons cancel? Or am I wrong? What are your experiences as creator? Thanks a lot for the reply!

@linouzz1732 2 жыл бұрын

two of my fav ppl in the world

@kiray.4568 2 жыл бұрын

Amazing 🔥

@chatvendertechnology 2 жыл бұрын

This guys is genius

@wecanwork 2 жыл бұрын

Great story, very inspiring.

@neomasoeu3400 2 жыл бұрын

I love this beautiful fringe of business: human-centric entrepreneurs. Love this!

@mailxhyvonne 2 жыл бұрын

My jaw dropped when I realized Jack from Pomplamoose was such a successful tech entrepreneur!

@vecernicek2 2 жыл бұрын

My jaw dropped when I realized that Jack "manifest observable behavior" Conte from Pomplamoose and Patreon was a con artist and a liar.

@chriskim7123 2 жыл бұрын

same here. their gaga cover video was awesome

@RT-. 2 жыл бұрын

@@vecernicek2 cool, but what are you trying to communicate here? 🤣 You call him names but don't point anyone to facts they can verify - or point to anything for that matter

@Glenn.Cooper Жыл бұрын

Awesome story!!

@saulgoodman2018 2 жыл бұрын

Now do a follow up, with what happened with Vimeo. That probably cost the users and money.

@downey416Toronto 5 ай бұрын

I like this series

@abduvosidmalikov 2 жыл бұрын

Really inspirational story, fascinating enthusiasm of the founder. But the interviewer didn't get the answer to his last question, I guess

@ez3902 2 жыл бұрын

Wait till these founders raise the 8% to 25% because the board said so😂

@adeyiwunmi 20 күн бұрын

aged well

@tuneesq 2 жыл бұрын

Go Jack. ❣

@LucasDimoveo 2 жыл бұрын

I remember back when he made awesome covers. I still can't believe he built Patreon!

@Grace-jb7me 2 жыл бұрын

Where can I find the full interview uninterrupted?

@Quickeasyguitarlessons 2 жыл бұрын

I hope shareholders keep listening to this man because he’s really in tune with artists and creators being an artist himself ☝️🧐

@saintkamei 2 жыл бұрын

Big fan of the pomplamoose!!

@Quickeasyguitarlessons 2 жыл бұрын

This story is about becoming successful by uplifting others and bringing them success. Everybody wins. That’s what makes his business model amazing 👍

@user-cz8tt3pc1z 10 ай бұрын

OMG I've been a fan of Pomplamoose for soooooo long! Never once noticed that he's the founder of Patreon wtf lol

@Hollowdude15 11 ай бұрын

Patreon is so awesome and great video man :]

@felixumeh4534 2 жыл бұрын

Good idea

@laina-brown 2 жыл бұрын

I hope they make more videos like this! This reminds me of the book The Millionaire Fastlane!

@kama6196 2 жыл бұрын

He didn't let his partner talk.

@candyjamaican 2 жыл бұрын

It’s HIS idea so……

@kgal1298 2 жыл бұрын

Jack kept it honest when others wouldn't so I'm generally happy for his success. When everyone else was trying to make money off MCN's while taking other creators hard earned money he found a way to get those influencers money on a level that the monetization and MCN's weren't.

@ericvillla 2 жыл бұрын

they really do be changing the title and thumbnail every couple days lol

@residencialmelo9449 2 жыл бұрын

O love your ideal and the fact you only make money if the creators make too .

@ap-uf6uc 2 жыл бұрын

Jack gives me highly charismatic, everyone needs to drink my kool-aid vibe.

@NathalieLazo 2 жыл бұрын

To anyone watching this... GIVE YOUR BEST THIS WEEK FOR EVERYTHING YOU DO! 💪🔥

@3DPI67 2 жыл бұрын

That's a spirited man

@healthyandrew5294 2 жыл бұрын

Patreon and gofundme should be for people who really need it, the poor. Not rich Jeff Bezos types. The rich begging for money I just greed.

@jensenraylight8011 2 жыл бұрын

well, you should stop use amazon first, before you talk. or else you are just a hypocrite. oh, you still remember that dirt cheap, and fast delivery amazon product that you took advantage of right? don't act like you got an amnesia, you're just as Greedy and Guilty as Bezos. you are no better than bezos

@loretagurakuqi6950 2 жыл бұрын

From my little research, Institutional investors (banks and hedge funds with a lot of money) use cryptomarket as a variant to diversify their assets. The investment in coins is considered as a more secure investment in the period of volatility of bond markets and gold.

@Benjaminmac 2 жыл бұрын

Having monitored my portfolio performance which has made a jaw dropping $370k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market.

@lindaabdrazak8159 2 жыл бұрын

I’ve got some savings doing absolutely nothing in my bank and I’ll get something started with it. You seem to be doing excellent for yourself, how do you achieve this?

@nataliadominguez4626 2 жыл бұрын

Am not good doing it alone but getting into the market has been my best decision so far in my road to financial independence as it turns out to be lucrative for me and Personally I have multiple streams so I just enable the use of an investment advisor to navigate and secure the returns.

@loretagurakuqi6950 2 жыл бұрын

@@lindaabdrazak8159 Don’t wait until the market skyrocket again then you start biting your fingers wishing you made the decision to invest. bought my third house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.

@danieljeronimo940 2 жыл бұрын

@André Correa For real you gain real funds up to that amount within 60 days period that's amazing, I tried as a beginner but I got drowned in it. Please enlighten how I can benefit as well Do you trade on your own?

@amsthe3rd 2 жыл бұрын

Faith + Funding move mountains. (Looks at bank account...) Well, 1 outta 2 ain't bad lol.

@dancergrrl 2 жыл бұрын

Sam is a quiet man

@jeffrejr1 Жыл бұрын

The money man

@rillyjo5810 2 жыл бұрын

400k/yr for the band and employees with 401k match. wow, doesnt sound like enough to do all that

@rajs7876 2 жыл бұрын

That's probably their personal net income

@zelda8697 2 жыл бұрын

He is so f....ING passionate about what he does..it is clearly not about just money for him but more about you get what you really deserve

@hxvideo Жыл бұрын

he seems very stubborn, closed minded and idealistic, does not look like a great business partner

@Avi-tq6fd Жыл бұрын

I don't agree with both of you

@Avi-tq6fd Жыл бұрын

And no fullstops with this statement as well

@politcallycorrect5816 2 жыл бұрын

I really hope they don’t go public, unless he keeps controlling interest, because it will just become another corporate greed machine, no matter what he does.

@edenassos 2 жыл бұрын

That's what a business means. Who cares if the patreon users still get paid for their content? People like you so against business owners succeeding is why the US is screwed.

@e28a 2 жыл бұрын

username checks out

@politcallycorrect5816 2 жыл бұрын

@@edenassos LMAO. who cares if the users get paid, once the corporation does well and enriches a few shareholders, that's all that matters. You have been brainwashed to think a business needs to generate profit at all costs, with the no regard to their workers or other stakeholders. Businesses can be profitable and ethical. Patreon currently is.

@politcallycorrect5816 2 жыл бұрын

@@e28a Thank you.

@edenassos 2 жыл бұрын

@@politcallycorrect5816 I'm pretty sure I know how businesses work far more than your bottom feeder self will ever do since I own businesses myself. What do you do for a living again?

@EinMeister 2 жыл бұрын

Moral of the story: damage your mental health

@fxgoat_ 2 жыл бұрын

4:35

@teenytinytoons 2 жыл бұрын

More founders from Stanford. Shocker.

@aretha6360 2 жыл бұрын

What's the name of the music video he made?

@perfectbreakfast Жыл бұрын

I did not understand most of what they said. Go public? Shareholder interest? Build the most value? Written payments? ... 8 O

@John83118 5 ай бұрын

I'm absorbed in this content. I had the pleasure of reading something similar, and I was absorbed. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight

@KaushikBala333 2 жыл бұрын

Did the first hires get in any share of company

@DinoDeBlue 11 ай бұрын

imagine my shock when i found out that one of the havles of a music band i like was the founder of patreon

@bolimov Жыл бұрын

Motivational, because it sounds possible. Without going through standard practices

@allanholmes5787 2 жыл бұрын

I think you are better than that Mel Tormey guy , who ever that is. : ) !

@catalinmihaidobre5452 2 жыл бұрын

Bearded guy could start a church any day.

@user-ti9zc1xv2b 2 жыл бұрын

400 F***ing million dollars raised? For this? Yes, we are in a absolute tech bubble.

@jeffrejr1 Жыл бұрын

Patreon will be huge nobody actually likes KZfaq it's tolerated. But most creators want out

@iamwhoiam7482 3 ай бұрын

@@jeffrejr1people are not happy about Patreon either, especially when they started booting people off for views that don’t align with theirs…

@jeffrejr1 3 ай бұрын

@@iamwhoiam7482 those people have Rumble where they belong

@derekelliott3971 2 жыл бұрын

Why go public and then have to keep shareholders happy??

@saulgoodman2018 2 жыл бұрын

How are they worth 5 billion? Their profit is most likely under 100 million since they started.

@jasonturner3234 2 жыл бұрын

It's the brand and Tech Ip if they sell the company or go public, on paper they would be worth 5 billion. But still be cash poor until they sell shares.

@minecraftmemes2413 2 жыл бұрын

The value is based on the potential that they have

@fluxophile 2 жыл бұрын

@@minecraftmemes2413 i.e. based on some inflated multiplier that the vast majority of companies never achieve. Tech is a circlejerk for the wealthy, corporate valuations are an arbitrary metric.

@minecraftmemes2413 2 жыл бұрын

@@fluxophile yes, but the ones that do are very likely to do much better than expected.

@exoticbutters2781 2 жыл бұрын

12:30 It's crazy how he is saying all of this but decided to ban every conservative voice on the platform because he didn't like what they had to say. And then there's that case where one of his board of directors that worked as an executive at PayPal using their connections to have PayPal restrict services to their competitors, ie SubscribeStar. Mind you, all of this happened before the making of this video. My point is if you care about your creators and design a platform for everyone to be successful, then you can't use personal and political bias to block creators on said platform.

@iamwhoiam7482 3 ай бұрын

But but but he is a Warrior! He is fighting the good fight! I’m obviously joking!

@jeffdorris5321 2 жыл бұрын

🕶💪

@petekdemircioglu 2 жыл бұрын

👏👏👏👏💜💚💜💚🙏

@TheMrmoc7 2 жыл бұрын

He reminds me of a Young Jeff Bezos. Obsessively focused on the customer. I believe his probability of long-term success is > 60%.

@DebraQuincy 4 ай бұрын

I just ditched Patreon. It is soooo buggy and they have absolutely NO support. They promise support answers in 24-48 hours but they NEVER answer. Their buggy software shuts down my account all the time stating I violate their terms which is a gigantic bug. I left them. There are better alternatives out there.

@YasinNabi 2 жыл бұрын

If you are not making money as passive, then you will be trapped in 5-6 job till you retire

@tkhannibal2476 2 жыл бұрын

He offered Casey Neistat to get in on Patreon which I believe he declined.

@candyjamaican 2 жыл бұрын

Isn’t this the same guy that ‘let-go’ (more like FIRED) his ‘teammates’ after Patreon made 155 million dollars? Mmmm that arbitration was a karma I guess.

@waxeye6488 3 ай бұрын

Methinks he doth protest...

@Relav1 2 жыл бұрын

Great story, but Patreon is still an awful website to this day

@candyjamaican 2 жыл бұрын

I don’t use it but I’m curious why you said that.

@GeorgeCollier 2 жыл бұрын

@@candyjamaican It's so unflexible. You're limited in what you can offer. After accounting for Patreon's fees, it's also much cheaper to make your own membership offer on your own website where you can do whatever you want, and integrate with things like merch and Discord.

@Relav1 2 жыл бұрын

@@candyjamaican well for one, they don’t even have their own dedicated video player LMAO. They use Vimeo. From a technical and design perspective, a horrible website - their valuation is laughable because of this. They only got big because of relationships with specific creators, but now there are beginning to be many competitors in the space. Patreon is not a tech company. That’s all I’ll say.

@khumbomunsaka716 Жыл бұрын

@@GeorgeCollier You have just given me a idea!!!

@entekhobi-dw1pg Жыл бұрын

Patreon has made money deceiving people. Don't be a Patreon! I've been one for months. They stolen me by discounting my money without giving me the services. I had a problem to assign on my account on Russian progress. After many emails not answered by Patreon i decided to ask my bank to cancel my credit card.

@franklingustares2125 2 жыл бұрын

Because of the economic crisis and the rate of unemployment, now is the best time to invest and make money 💯.....

@parkerstunt1063 2 жыл бұрын

@Judith Carl That won't bother you if you trade with a professional like Mr David Reinkensmeyer

@jackies5925 2 жыл бұрын

I have also been trading with him, profits are secured and over a 100 percent return on investment

@strangelove6828 2 жыл бұрын

My first Investment with Expert David Reinkensmeyer has earned me profits of over $24,320 us dollars and ever since then he has been delivering

@luciataylorvilles141 2 жыл бұрын

Trading without a professional like Expert David Reinkensmeyer is like gambling with your money

@harrygeorge3739 2 жыл бұрын

Seeing Alot of success stories, he's must be honest and trustworthy for people to talk this good about him.

@BigDog-cy4qk 2 жыл бұрын

Patreon annoying beggars

@vharat123 2 жыл бұрын

this commentator sounds funny, talking with his nose.

@KingKoin88 2 жыл бұрын

While his story n personality is fantastic, with Blockchain and Fan Tokens, Patreon will be obsolete fast. Bad investment idea.

@GoFastJames 2 жыл бұрын

Was thinking the same thing, but same time many artist and many fans are not open to Blockchain just yet. Artist are worried about the scam look of it being so early and fans are as well looking at it that way and are putting wall up to change in things that they don't get just yet. Blockchain will change it all at some point just a question of when and how fast will the change happen.

@donaldchris4748 2 жыл бұрын

Crypto currency and NFTS will outsmart the banking system in the nearest future serving as a global fiat. Already making over $60,000 profit from my current investment🤑

@liamryan4876 2 жыл бұрын

Please sir, can you explain to me my financial status is in a bad situation

@jerryhelpen4035 2 жыл бұрын

@thompsonpaul7406 2 жыл бұрын

I have heard a lot about investing with Mrs wendy and how good she is, please how safe are the profits?

@lucaslucy5776 2 жыл бұрын

@@thompsonpaul7406 Yes I can assured you because I have aslo been trading with her, profits are secured and over %100 return on your investment.

@kingscober3932 2 жыл бұрын

Awesome i just started trading with Mrs wendy, she is the best at what she does With an initial investment of $10,4851 made up to $33,340 in just a week of trading with her, her strategies are mind 😱

@youngfazza6318 2 жыл бұрын

Every crypto investor right now just smiling at the price of crypto as it held strong and indeed valuable enough to generating good ROI.more person are gonna become millionaires and we have crypto thanks for that

@leslierodgers8432 2 жыл бұрын

How favourable is the market now.I want to invest in cryptography?

@susanrita3608 2 жыл бұрын

Yeah sure favourable forex and crypto yields more profit with the favourable market rise.

@arimukherjee1058 2 жыл бұрын

I had interest in investing in Forex and crypto but I was discouraged by friends and family, was being ignorant thought.

@sterlingdan2124 2 жыл бұрын

Same here it's four months now I started investing with Mrs LAUREN SIMMONS and it's been a good experience.

@allendonpedro3508 2 жыл бұрын

I've never heard or seen any of her clients complain of lost....I think she's just too lucrative and perfect for this job.

@kristinchong629 2 жыл бұрын

Ugh. There’s basically geomonopolies on tech. Like there is no such thing as entrepreneurs startups or even founders. There just this global ledger and like a few select people get to amass gigantic mass of wealth while plummeting whole populations of people. Patreon doesn’t really know art it’s just some quirky white dudes way of saying I say what art and value of art is. Literally eroding humanity just bc he had a special button on his phone. Like what is this dude accomplishing. Why isn’t there critical analysis. News.

@MJ-py7dm 2 жыл бұрын

Let's all never forget how this guy fired his entire product team and made a video about how it made HIM cry to do it while he'd just raised 150M kzfaq.info/get/bejne/jbmTi8xptt-ph40.html

@theendurance 2 жыл бұрын

okay? so he fired some people, big whoop. that's lfe.

@MJ-py7dm 2 жыл бұрын

@@theendurance Firing your entire product team while you have the money to not do it and then making a video where he semi-brags about it says a lot of about the man. We love to idolise these entrepreneurs, that's why I wrote what I wrote. If you think there's nothing problematic with that, go on. I wrote what I wrote.

@thehondaboi 2 жыл бұрын

@@MJ-py7dm Yeah you sound like the type of person who likes to criticize things from the outside view with rough detail and justification. Regardless of what happened, this guy just happens to be open about it, but if you saw what happens at our favorite large companies, you'd probably want to brush this off.

@MJ-py7dm 2 жыл бұрын

@@thehondaboi I don't care what you think I sound like

@dl662 2 жыл бұрын

@@MJ-py7dm asking his college roommate to sign an NDA before vetting an idea already says a lot about the guy. Their product did good deed for creator for sure though.

@pauls7302 2 жыл бұрын

RLC I exec crypto small token supply Partnered with Ibm, Intel Amazon, Microsoft, Nivida! Selling Idle computer power for Fortune 500 companies small cap small token supply can skyrocket at any time!