- Morning Brew — an email newsletter that makes reading business news more enjoyable — is set to quadruple its revenue to $13 million this year.
Email newsletter company Morning Brew is set to more than quadruple its revenue this year to $13 million, according to Business Insider. Originally, Morning Brew was launched in 2015 by two University of Michigan business students and fraternity brothers CEO Alex Lieberman and COO Austin Rief — who had a goal of making it easier for people to see the most important business news in a quick format.
Morning Brew is profitable. And going forward, Morning Brew is aiming to hit another year of growth and expand beyond advertising. Morning Brew is sent out to 1.5 million subscribers every day. And Morning Brew is seeing a 40% open rate.
Some of Morning Brew’s biggest advertisers include Fidelity and IBM. Last year, Morning Brew hit $3 million in revenue and next year, the company is aiming to hit $20 million in revenue.
Morning Brew raised $750,000 in a seed round of funding from friends and family in late 2017. Last year, the company was considering raising a Series A round of funding but decided to hold off after seeing several media companies struggling to hit major returns for its investors.
Earlier this year, Morning Brew launched a podcast and the company plans to launch new verticals and newsletters. Rief also said that the company has a goal of hiring a team to develop non-advertising revenue streams next year.