The $75 Million Newsletter

That’d be Morning Brew, which was acquired by Insider Inc. earlier this week.

Morning Brew is actually 4 newsletters and a podcast, but their main newsletter, which breaks down the daily news for millennials, is the crux of the business with 2.5 million subscribers. The company mainly earns money from newsletter sponsors, and are on track for $20 million revenue and $6 million profit this year 💰

Back in August, Ali Abouelatta broke down how Morning Brew got started.

Highlights:

• Launched in 2015 by two college kids at the University of Michigan with a $100/month budget.
• Their first subscribers were friends from university who wanted an easy-to-digest summary of finance news.
• They got to 2000 subscribers by pitching the newsletter to every business class and club at the university.
• An ambassador program and cross-promotion with other newsletters worked well to get them to 100k subs.