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SKOOL partners with Alex Hormozi, valuation reported above $1B vBULLETIN still running, 26 years after launch, now a private-equity asset PATREON has routed billions in fan payments since 2013 THREADO pivots to an AI support co-pilot for communities PODIA & GROUPAPP collapse courses, memberships and chat into one dashboard INVISION COMMUNITY keeps big forums alive past two decades
Story · The Creator Economy

Everyone Is Quietly Building A Members-Only Internet

The creators and brands who spent a decade renting attention on other people's feeds are now buying software to build private homes instead. Skool, Patreon, Podia and a stack of quieter forum companies are all fighting to be the front door.

Swiss-style graphic: on the left an organic constellation of nodes around a bold yellow hub representing an owned community network; on the right a rigid grid of modular squares behind a wall representing rented, governed platforms; a bright seam runs down the middle for the contested conversation.
The two ways to hold a crowd. Left: the owned network you run. Right: the rented, governed grid you pay to sit inside. The seam down the middle is the conversation everyone wants to keep. - YesPress illustration

For about ten years, the deal was simple and quietly terrible. You made something people liked, you posted it to a feed you did not own, and a company you never spoke to decided how many of your own followers would see it. Reach went up, then reach went down, and the only constant was that you were a tenant. The address was never yours.

What is happening now is the slow, unglamorous end of that arrangement. Creators, coaches, brands and support teams are paying for software that gives them a room of their own - a private space with a member list they keep, a payment relationship they control, and a feed no algorithm can quietly turn off. It is not a viral moment. There is no keynote. But eight companies with almost nothing in common have all placed the same bet, and it is worth looking at who they are.

2000
The year vBulletin launched. It still runs large forums today.
2013
Patreon opens, and fans start paying creators directly.
$1B+
Skool's reported implied valuation after the 2024 a16z round.
$3.1M
Threado's seed raise, led by Vertex Ventures.

01Renting versus owning

Start with the distinction that runs through the whole market. A follower is someone a platform lends you. A member is someone who logs in to a place you run. The gap between those two words is the entire business. When you have followers, the platform owns the relationship and rents you access to it. When you have members, you own the list, the billing and the room, and the platform is just the plumbing.

This is why the category is quietly valuable in a way that reach never was. A community does not churn the way a feed does. People do not casually leave a group they pay for, learn in and talk in every day. That stickiness is the product, and every company here is selling a version of it.

Reach is a loan. Community is equity. The smartest creators finally figured out the difference.The through-line of the whole market

02The creator-first camp

Skool, founded in 2019 by Sam Ovens and Daniel Kang, is the loudest name of the moment. Its whole product is roughly three things: a discussion feed that looks like an old Facebook group, a simple classroom for video courses, and a shared calendar. It is deliberately plain. There is almost no customization, and that is the point - an operator can set it up in an afternoon and cannot get lost in settings. Skool's leaderboard runs on a quietly clever trick: every like or comment earns one point, points unlock levels, and levels can gate content. In 2024, Alex Hormozi partnered with the company and invested, and an a16z-backed round pushed its reported implied valuation above a billion dollars.

Patreon is the elder statesman of the group. Co-founded in 2013 by the musician Jack Conte, who had a YouTube hit that earned views but no money, it proved the thing everyone else now takes for granted: fans will pay to support work directly. Patreon leans toward the support relationship - you back a creator, you get perks - rather than the daily group chat. It has paid out billions to creators over its life.

Podia, started in 2014 by Spencer Fry, and GroupApp, founded by Dornubari Vizor, both play the all-in-one card. They collapse the creator stack - courses, digital downloads, memberships, community and payments - into one dashboard so a solo operator does not have to duct-tape five tools together. Podia leans toward the storefront; GroupApp leans toward the learning community. Both are betting that simplicity wins the long tail of coaches and educators who will never run a complicated stack.

A community is the only asset a creator can own outright. That is why the software to build one is suddenly a battlefield.Why the money is here

03The old guard that never actually died

Here is the part the creator-economy crowd tends to forget. The forum was declared dead roughly once a year for two decades, and it kept running the whole time. vBulletin launched in 2000, seven years before the iPhone, and it is still here. Legally it is MH Sub I, LLC, a division of Internet Brands, which sits inside a private-equity consortium that includes KKR, Warburg Pincus and Temasek. Yesterday's hobby message boards are, it turns out, today's institutional assets.

Invision Community, from the team behind Invision Power Services, has kept large forums running past twenty years with a suite that ranges from discussions to commerce. Forumbee aims the same forum idea at a newer job - a community and knowledge base sitting next to a company's support desk. These are not glamorous, but they quietly answer a question the flashier tools sometimes duck: what happens when your community is not fifty superfans but fifty thousand strangers who need moderation, search and structure.

Figure 1 · A quarter-century chasing the same login screen
2000 vBulletin 2002 Invision 2013 Patreon 2014 Podia 2019 Skool 2020 Threado
Founding years, plotted on one line. The forum vendors are old enough to drive; the creator platforms are barely out of school. Same target.

04The AI layer sitting on top

Threado, founded in 2020 by Pramod Rao and Abhishek Nalin, took a different seat. Rather than host your community, it started as a dashboard on top of the places communities already live - Slack, Discord, Discourse - measuring engagement and surfacing who mattered. It later leaned into AI as a support co-pilot, answering member questions and helping small teams keep up. The interesting move is what it did not do: it did not try to replace the human community with a bot. It offered a co-pilot instead of an autopilot, which tells you something about where the useful line is.

Figure 2 · Who does what
PlayerWhat it really sellsBest for
SkoolFeed + course + leaderboard, all deliberately simpledaily habit
PatreonPaid memberships and fan supportfunding work
PodiaAll-in-one storefront: courses, downloads, emailselling
GroupAppLearning community with built-in monetizationeducators
InvisionFull forum suite for large communitiesscale
vBulletinBattle-tested forum software, decades deeplongevity
ForumbeeCommunity + knowledge base beside supportcustomer help
ThreadoAnalytics + AI co-pilot on top of existing chatsmanaging
Two camps, one goal: turn borrowed attention into an owned relationship.

05What you can actually do with this

Strip away the market talk and the practical question is: if you have an audience, what do these tools let you do? Quite a lot, and none of it is exotic. You can charge a monthly fee for access to a group and keep the billing relationship yourself. You can put your course inside the same place people ask questions about it, so the lesson and the discussion are not in two different apps. You can run events and calls on a shared calendar, reward the people who show up, and see who your real regulars are. And when the group gets big enough that you cannot read every message, you can add moderation, search and, increasingly, an AI helper that drafts answers.

The right choice depends less on features and more on temperament. If you want the simplest possible daily room, Skool's constraints are a gift. If your business is supporters funding work, Patreon fits the shape. If you are selling courses and want one checkout, Podia or GroupApp. If you are running a large forum or a support community, the old guard and Forumbee have quietly solved problems the new tools are only now meeting. And if your community already lives in Slack or Discord, Threado sits on top rather than asking you to move.

06The catch nobody puts on the sales page

There is a fair objection to all of this, and it is worth saying plainly. "Owning" your community is a matter of degree, not a clean fact. If your whole business lives inside Skool, you do not own Skool. You own a data export and a member list, which is more than a follower count but less than a deed. The vendor still sets the price, ships the features and, in the worst case, could change the terms the way the feeds you fled once did. The forum vendors are the honest tell here: vBulletin sits inside a private-equity portfolio, which is a reminder that the software running your room answers to someone with a spreadsheet.

So the real move is not "leave the platforms." It is "stop being a pure tenant." Keep the email list, because email is the one channel nobody can revoke. Keep the payment relationship, because a customer who pays you directly is a customer, not a metric. Treat the community platform as a home you rent with a lease you actually read, rather than a couch you are crashing on until the algorithm decides otherwise. The winners in this market will be the ones who make that lease feel fair, and who make leaving them plausible enough that customers never want to.

It is also why the category keeps attracting such different companies. A 2000-era PHP forum owned by a buyout firm and a 2020s AI startup have no business being competitors, and yet they are chasing the same login screen. That is the giveaway that this is not a fad about one app. It is a structural bet that the next layer of the internet is private, paid and small - thousands of rooms instead of a few enormous feeds, each with a door and a name on it.

The difference between a follower and a member is a login screen. That login screen is now worth billions.The one-line version

The quiet truth under all of it is a shift in power. For a decade, the platforms held the audience and rented it back to the people who built it. The community software boom is what happens when enough of those people decide they would rather own the room than keep paying rent on the feed. It does not trend and it does not announce itself. It just moves the internet, slowly, indoors, one members-only door at a time.

#online-community #community-platform #creator-economy #membership #skool #patreon #podia #owned-audience #community-software #saas