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In September of 2016, Alex quit his job at Morgan Stanley to work on the newsletter full-time.
Austin also began working full-time when he graduated from Michigan in May of 2017.
Another way that the company reduces CAC is through their referral program, which they launched in 2017 after discovering the value of ambassador programs.
August 19, 2019. https://medium.com/the-mission/how-morning-brews-referral-program-built-an-audience-of-1-5-million-subscribers-3315482c1aa5.
Morning Brew’s daily newsletter accounted for 95% of overall revenue in early 2019.
February 6, 2020. https://digiday.com/media/morning-brew-grew-13m-revenue-33-employees/.
In October of 2020, Morning Brew was acquired by Insider Inc., the parent company to Business Insider.
October 26, 2020. https://entrepreneurshandbook.co/engagement-beats-scale-inside-morning-brews-approach-to-subscriber-growth-60444bfaa9a3.
November 5, 2020: Sponsored by Whoop.November 4, 2020: Sponsored by Skillshare.November 3, 2020: Sponsored by DiversyFund.November 2, 2020: Sponsored by PolicyGenius.October 31, 2020: Sponsored by Cariuma.
In 2020, Morning Brew spent anywhere in the low- to mid-six figure range on paid marketing, which is among the top two costs for the business.
March 18, 2021. https://www.businessofbusiness.com/videos/austin-rief-how-morning-brew-went-from-college-newsletter-to-75-million/.
April 10, 2021. https://www.theinvestorspodcast.com/episodes/tip344-a-deep-dive-into-morning-brews-75m-valuation-w-alex-lieberman/.
October 22, 2021. https://foundersjournal.morningbrew.com/how-morning-brew-exited-for-8-figures/.
Our Morning Brew Accelerator(this link opens in a new tab) (aka “MB/A”) welcomed its first cohort in 2021, and HR Brew is just around the corner.
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