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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

Huge wildfire reaches edge of Sequoia National Park

A plume of smoke and flames rise into the air as the fire burns towards Moro Rock during the KNP Complex fire in the Sequoia National Park near Three Rivers, California, on Saturday. Photo: Patrick T. Fallon/AFP via Getty Images

Firefighters in Sequoia National Park were working into the night after two wildfires merged to reach the Giant Forest Saturday.

Why it matters: This forest contains over 2,000 giant sequoias, including the General Sherman Tree — considered the world's largest by volume. Park officials wrapped the trees in foil last week as the Paradise and Colony Fires, now known as the KNP Complex Fire, neared. And officials said early Sunday protection efforts appeared to be working.

3 hours ago - World

U.S. drone strike victims' families in Afghanistan seek compensation

A relative of Ezmarai Ahmadi, who was killed by a U.S. drone strike, looks at the wreckage of a vehicle that was damaged in the strike in the Kwaja Burga neighbourhood of Kabul on Saturday. Photo: Hoshang Hashimi AFP via Getty Images

Relatives of 10 Afghans killed by a U.S. drone strike in Kabul last month said Saturday they want to see punishment and compensation over the deaths.

Driving the news: The relatives said it's "good news" that the U.S. had "officially admitted" that "they had attacked innocents" in the Aug. 29 strike that killed Zamarai Ahmadi, an aid worker with a U.S.-based group, and nine family members, but they still need "justice," per AFP.

Miriam Kramer, author of Space
6 hours ago - Science

All-civilian Inspiration4 is back on Earth after flight to space

A side-by-side of the Inspiration4 crew and a shot of their capsule on the way back to Earth. Photo: SpaceX

The all-civilian Inspiration4 crew is back on Earth after their three-day mission in orbit.

The big picture: The launch and landing of this fully amateur, private space crew marks a changing of the guard from spaceflight being a largely government-led venture to being under the purview of private companies.