Ex-Morning Brew employees launching Substack competitor
A group of former Morning Brew employees says they've raised a seed round to launch a new newsletter platform called beehiiv.
Why it matters: The group enters a crowded field. Facebook and Twitter have already launched their Substack rivals. Google is reportedly experimenting with newsletters as well.
Details: The new company is led by Morning Brew alums Tyler Denk, Benjamin Hargett and Jake Hurd. The seed round is led by Social Leverage and other funds as well as angel investors.
- Beehiiv is looking to differentiate itself by focusing on making it easier for smaller creators to monetize their work, instead of focusing on the top 1% of creators that already have big audiences.
- The company's tech is in a private beta, Denk says, "with several dozen active senders on the platform and several hundred people on the waitlist."
What's next: It plans to open up access more broadly by November.