Just six years after its launch, Morning Brew has reshaped business news with a product catered to millennials. It's also become a successful business in and of itself, growing from a dorm room project into a company that media titan Insider valued at a reported $75 million when acquiring a majority stake last year.
During a Jan. 16 appearance on Motley Fool Live, co-founder Alex Lieberman shared the Morning Brew approach to providing business news and explained why the company has been successful in reaching young professionals.
Alex Lieberman: Morning Brew's goal at the highest level is to empower the modern business leader with engaging and accessible content. My more irreverent, shorter answer is, business news and business content isn't sexy, or at least it hasn't been sexy in the ways that traditional media brands have talked about the business world. Our goal is to make it sexy and enjoyable for an entire generation of people that are going to run companies and run countries in the next 5-10 years.
To us the big insight in starting this business was when we were in college. We would ask students when prepping them for job interviews, "How do you keep up with the business world?" and every student would say something along the lines of, "I read the Wall Street Journal and I read it because I feel like I have to, because it's a prerequisite" they go on and on. At some point we were like, "This is crazy. These kids are working their a---s off to have careers in business. They're literally going to spend the ages of 28-60 plus or 40 years, 50% of your life for those 40 years working in business. They deserve to have content that they love and that motivates them."
That was the beginning insight. The OG product of Morning Brew is a product that we still have today, that is our marquee product. It's our daily newsletter, sent out six days a week to 2.5 million people. A million unique opens a day. I think it makes it the largest daily newsletter in the country or second-largest. The way that we've grown in the business since launching the newsletter in 2015, is basically with this obsession about a very specific type of person, we call the modern business leader. This intellectually curious, deeply aspirational and career-oriented, millennial professional. If you track the progression of Morning Brew and all of the products that we've launched, it's always about how can we further serve that psychographic.