Morning Brew co-founder and CEO Alex Lieberman is becoming executive chairman and co-founder Austin Rief will take his place as CEO, reports Sarah Fischer of Axios.
Fischer reports, “The changes come less than a year after Insider acquired a majority stake in Morning Brew. The upstart business newsletter outlet is now branching into podcasts, live events, and social video.
“By the numbers: Rief says the company has flourished under its new ownership structure, and expects to nearly double in revenue this year.
- Revenue: $20 million in 2020 and $13 million in 2019. This year, Rief says the company is expecting revenues ‘in the high $30 millions’ while remaining profitable.
- Subscribers: ‘Revenue across the board has increased dramatically,’ he says. ‘As has readership.’ Rief says the company now has 3 million subscribers across all of its five newsletters.”
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