$136M

We've now generated over $136M from free, open source software with Ghost

$36M in revenue from managed hosting
$100M in platform revenue for indie publishers

The ecosystem is growing really quickly at this point, and really excited about where things are heading next.

For a while it felt like the entire web was moving toward big centralized platforms — but as subscription businesses grow larger we consistently see that people want to run their own platform and have full control.

I'm extremely bullish on publishers using Ghost, but also the future of open, shared infrastructure more broadly.

It's taken 12 years to get to this point as a bootstrapped non-profit org with no outside funding, but the position we're in now is pretty remarkable:

Other platforms have hundreds of millions of dollars in VC debt to repay, and shareholders to enrich.

We don't.

We can just keep reinvesting 100% of what we make into improving the product.

That's going to create some really interesting asymmetric market dynamics over the next few years.