- Insider Inc. — the parent company of Business Insider — announced it is buying a controlling stake in digital media startup Morning Brew at a reported valuation of up to $75 million.
Insider Inc. — the parent company of Business Insider — announced it is buying a controlling stake in digital media startup Morning Brew at a reported valuation of up to $75 million. Morning Brew is reportedly expected to hit over $20 million in revenue this year. And Morning Brew is profitable.
Morning Brew’s products includes a daily email with about 2.5 million readers. The company also runs a new lifestyle newsletter and a podcast called Business Casual — which hit about 6 million downloads.
As part of the deal, Insider is going keep Morning Brew as an independent entity. Morning Brew cofounders Alex Lieberman and Austin Rief said they were interested in Insider’s “history of welcoming entrepreneurs with open arms and empowering them to build their businesses independently.”
To that point, Insider’s not messing with the Brew’s popular brand and will keep it as an independent entity.
