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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

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Photo: Joe Raedle/Getty Images

The Cleveland Clinic on Tuesday released a study showing that 99.75% of patients hospitalized with COVID-19 between Jan. 1 and April 13 were not fully vaccinated, according to data provided to Axios.

Why it matters: Real-world evidence continues to show coronavirus vaccines are effective at keeping people from dying and out of hospitals. The Pfizer-BioNTech and Moderna vaccines have been found to be 95% and 94% effective, respectively, at preventing symptomatic infections.

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Biden reaches agreements with Uber and Lyft to give free rides to vaccine sites

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The Biden administration has reached agreements with ride-sharing companies Uber and Lyft to offer free rides to coronavirus vaccination sites through July 4, the White House announced Tuesday.

Why it matters: The free rides, starting in the next two weeks, are part of the Biden administration's push to administer at least one vaccine dose to 70% of U.S. adults by Independence Day.

Ben Geman, author of Generate
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Biden officials green-light nation's first big offshore wind project

Illustration: Aïda Amer/Axios. Photo by Brendan Smialowski/AFP via Getty Images

The Biden administration today gave final approval to Vineyard Wind, a project off the Massachusetts coast slated to be the country's first large-scale offshore wind farm.

Why it matters: While the green light for the long-proposed project was expected, it marks a key step in White House plans to help spur development of a suite of coastal projects off New York, New Jersey and other states.