>The new capital will go towards hiring to expand its 80 person team and scaling up growth by recruiting more creators including videographers, political pundits, game developers, illustrators, musicians, and comedians.
Patreon was doing a Netflix. Patreon is a platform and it needs content on it's platform to draw people in. So it used the $60m to bribe creators to sign up. Without that $60m someone else could very easily have created the same platform, bought all the big content creators and squished Patreon over night. It was about establishing their network effect.
Now they've effectively done that, they're the defacto place for this. So now they need to extract value from the position they're in. It makes perfect sense to me. It's not great for consumers - it's basically buying a network effect driven monopoly, but isn't that basically 80% of what silicon valley is doing today?