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Jake Hurd (from left), Tyler Denk and Benjamin Hargett. Photo: Courtesy of beehiiv

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.

Go deeper

Oct 5, 2021 - Technology

Facebook stock tanks as troubles mount

Expand chart
Data: Yahoo Finance; Chart: Danielle Alberti/Axios

Facebook's latest string of controversies is beginning to seriously weigh on its stock performance — a clear indication of the tech giant's vulnerability to long-term business headwinds, even if its ads business continues to grow for now.

The big picture: In the past, investors have mostly shrugged at blows to Facebook's reputation, including Capitol Hill hearings and leaks, and instead have focused on ad and user growth as metrics for success.

Updated 15 mins ago - World

Police charge man with murder of British MP David Amess

Police outside Belfairs Methodist Church in Leigh-on-Sea, England, on Oct. 15. Photo: John Keeble/Getty Images

Police said Thursday that Ali Harbi Ali, a 25-year-old British man, has been charged with the murder of David Amess, a Conservative Party lawmaker in the U.K.

The big picture: Last week, the Metropolitan Police declared the fatal stabbing a terrorist incident, saying that they had found "a potential motivation linked to Islamist extremism."

Updated 1 hour ago - Health

COVID cases and deaths keep falling

Expand chart
Data: N.Y. Times; Cartogram: Kavya Beheraj/Axios

America’s coronavirus outbreak is rapidly improving as the Delta wave recedes, and vaccines for kids — which could become available within weeks — will help the situation improve even further.

By the numbers: Nationwide, the U.S. is now averaging about 79,000 new cases per day — a 22% drop over the past two weeks.