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Illustration: Sarah Grillo/Axios

Morning Brew co-founder and CEO Alex Lieberman is becoming executive chairman and co-founder Austin Rief will take his place as CEO, Rief tells Axios.

The big picture: The changes come less than a year after Insider acquired a majority stake in Morning Brew. The upstart business newsletter outlet is now branching into podcasts, live events, and social video.

By the numbers: Rief says the company has flourished under its new ownership structure, and expects to nearly double in revenue this year.

  • Revenue: $20 million in 2020 and $13 million in 2019. This year, Rief says the company is expecting revenues "in the high $30 millions" while remaining profitable.
  • Subscribers: "Revenue across the board has increased dramatically," he says. "As has readership." Rief says the company now has 3 million subscribers across all of its five newsletters.
  • Verticals: The signature "Morning Brew" email drives the bulk of revenue; verticals like Retail and Emerging Tech are growing quickly.

Since the acquisition, the company has also added a number of new hires, bringing its staff total to nearly 100, up from from 65 last year. Rief says the majority of hires have been on the content side.

Moving forward, Lieberman will be focused on Morning Brew's culture, creating content, and publicly helping to steer the company via speaking engagements, participation in large sales deals and talent acquisition.

  • Rief will be responsible for the long-term vision for the business and to execute on the business day-to-day.

Between the lines: Rief says Morning Brew was not a part of its parent company Insider's unionization plan announced Monday.

Go deeper

Updated 3 hours ago - Energy & Environment

Thousands without power as "hazardous" winter storm lashes East Coast

Satellite imagery of the Northeastern U.S. taken by NOAA on Jan. 17. Photo: NOAA

A major winter storm lashed much of the East Coast Sunday and Monday, causing widespread power outages and disrupting travel over the holiday weekend.

The latest: Authorities in North Carolina confirmed that two people died in a car crash and that they responded 600 vehicle accidents during the storm on Sunday, per the Washington Post.

Texas abortion law remains in effect after appeals court ruling

Pro- and anti-abortion protesters outside the Supreme Court as arguments begin about the Texas abortion law on Capitol Hill in November. Photo: Jabin Botsford/The Washington Post via Getty Images

A U.S. appeals court transferred a challenge to Texas' law banning most abortions after about six weeks of pregnancy to the state supreme court in a 2-1 vote on Monday evening.

Why it matters: The 5th U.S. Circuit Court of Appeals' decision means the country's most restrictive abortion law can remain in place for the time being.

5 hours ago - World

At least 2 dead after Tonga volcano eruption and tsunami

A satellite image of the explosive eruption of the Hunga Tonga-Hunga Ha'apai volcano on Saturday. Photo: UNICEF/NOAA

At least two people are confirmed to have died in Tonga following the undersea volcanic eruption that sent tsunami waves toward the island nation and across the Pacific over the weekend, officials said Monday.

The big picture: Officials reported major damage along the western coast of the main island of Tongatapu, where the capital, Nuku'alofa, was covered in ash and dust, including on the runway of the airport. A New Zealand Ministry of Foreign Affairs spokesperson told Axios over the phone that two people had been confirmed to have died in the disaster.