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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

Reports: More than 100 Republicans threaten to form 3rd party over Trump

Former President Trump addressing the Conservative Political Action Conference in Orlando, Florida, in February. Photo: Joe Raedle/Getty Images

More than 100 Republicans will sign a letter Thursday threatening to create a third party if the GOP doesn't "break" with former President Trump, Reuters first reported.

Why it matters: Per Axios' Mike Allen and Jim VandeHei, Trump's grip on the GOP has gotten stronger since the Jan. 6 Capitol riot. The Republican Party's "allegiance to Trump" as he continues to make false claims about his 2020 election loss has "dismayed" the group, according to Reuters.

Updated 2 hours ago - World

In photos: Dozens dead as Israel and Hamas intensify aerial bombardments

People gather at the site of a collapsed building in the aftermath of Israeli air strikes on Gaza City on May 11. Photo: Mahmud Hams / AFP) (Photo by MAHMUD HAMS/AFP via Getty Images

At least 35 Palestinians and five Israelis have been killed as fighting between Israel's military and Hamas entered a third day, per Reuters.

The big picture: The worst aerial exchanges of fire between Israel and Hamas since 2014 come after escalating violence in Jerusalem that injured hundreds of Palestinians and several Israeli police officers during protests over the planned evictions of Palestinian families from their homes.

Scoop: Stephanie Murphy announcing challenge to Marco Rubio

Rep. Stephanie Murphy. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Democratic Rep. Stephanie Murphy is planning to announce a campaign for the U.S. Senate in Florida against Republican Sen. Marco Rubio in early June, people familiar with the matter tell Axios.

Why it matters: Murphy is a proven fundraiser. Jumping in now would give her an early start to build her case for the Democratic nomination and potentially force Rubio and allied GOP groups to spend heavily to retain a seat in a state that’s trending Republican.