beehiiv | The newsletter Platform Built for Growth

beehiiv is a New York-based newsletter platform founded in 2021 by former Morning Brew employees Tyler Denk, Benjamin Hargett, and Jake Hurd. The company provides an all-in-one platform that enables creators and brands to create, customize, scale, and monetize email newsletters.

The platform has evolved from a pure subscription-based newsletter SaaS to a comprehensive creator platform. beehiiv now generates a third of its revenue from its performance ad network and creator-to-creator ad marketplace, with the remainder coming from software subscriptions. This dual revenue model differentiates beehiiv from competitors and provides multiple monetization pathways for both the company and its customers.

beehiiv has demonstrated exceptional growth since launch, reaching $30M in annualized revenue in June 2025 and serving 90K customers. The platform's business reaches over 6 million subscribers across its customer base, competing directly with established players such as Substack, ConvertKit, and Mailchimp.

The company's funding journey includes:

The company has raised over $40 million in total funding to date. The Series B round positions beehiiv to expand its platform capabilities, scale operations, and capture additional market share in the rapidly growing newsletter and creator economy space.

Key Customers: The platform powers newsletters across diverse verticals including business, sports, and media, with customers consolidating 25 tools down to 7 using beehiiv's all-in-one solution.

beehiiv represents a compelling investment opportunity in the rapidly growing newsletter and creator economy market. The company has demonstrated exceptional execution with 100% year-over-year revenue growth, reaching $30M ARR while maintaining a diversified revenue model that reduces platform risk.

Proven Founder-Market Fit: The founding team's experience building the tech infrastructure for Morning Brew, which scaled to 3.5 million subscribers and $20 million in revenue, provides deep domain expertise and credibility in the newsletter space.

Differentiated Business Model: Unlike pure SaaS competitors, beehiiv's dual revenue stream from software subscriptions and advertising creates a more defensible moat and aligns incentives with customer success. The ad network and Boosts marketplace generate high-margin revenue while helping customers monetize their newsletters.

Strong Product-Market Fit: The platform's ability to help customers consolidate 25 tools down to 7 demonstrates clear value proposition. With 90K customers and 6M+ subscribers across the platform, beehiiv has achieved meaningful scale.

Large and Growing Market: The newsletter platform market is projected to grow significantly as part of the broader creator economy trend. beehiiv is well-positioned to capture share from incumbents through superior product features and growth tools.

Efficient Growth: The company has scaled to $30M ARR with relatively modest capital raised ($40M+ total), suggesting strong unit economics and capital efficiency compared to typical SaaS benchmarks.

beehiiv is a comprehensive newsletter platform that provides creators, publishers, and brands with an all-in-one solution to create, customize, scale, and monetize email newsletters. The platform has evolved beyond basic newsletter functionality to become a full-featured creator platform.

The platform offers web publishing, email, subscriptions, content gating, analytics, and monetization in a unified solution. Recent expansions include AI-driven website creation, the ability to sell digital products directly, sophisticated analytics, and integrated podcast hosting.

Newsletter Creation and Publishing: beehiiv provides an intuitive editor designed specifically for newsletter content, along with a mobile-optimized site builder that allows creators to publish content beyond email.

Growth and Monetization Tools: The platform includes newsletter growth tools and interactive experiences designed to help creators build and engage their audiences. beehiiv's built-in ad tools enable creators to monetize through the platform's ad network and Boosts marketplace.

Analytics and Optimization: The platform provides comprehensive analytics to help creators understand audience behavior and optimize content performance, supporting data-driven decision making.

beehiiv's value proposition centers on providing a comprehensive, all-in-one platform that eliminates the complexity and cost of managing multiple tools while enabling creators to grow and monetize their newsletters more effectively.

For Creators and Publishers

Consolidation and Simplicity: beehiiv enables customers to consolidate 25 tools down to 7, dramatically simplifying their technology stack while reducing costs and operational complexity. This consolidation covers the entire newsletter workflow from creation to monetization.

Growth Acceleration: The platform provides newsletter growth tools and interactive experiences specifically designed to help creators build their audiences. These tools are informed by the founders' experience building features that helped Morning Brew scale to 3.5 million subscribers.

Multiple Monetization Pathways: Unlike competitors that focus solely on subscriptions or advertising, beehiiv offers multiple revenue streams including paid subscriptions, ad network revenue through the Boosts marketplace, and digital product sales. This diversification reduces risk and maximizes earning potential.

Professional Infrastructure: The platform provides enterprise-grade capabilities including sophisticated analytics, content gating, and automation that were previously only accessible to large publishers, democratizing access to professional newsletter tools.

Speed to Market: Case studies demonstrate that publishers can rebuild their entire tech stack in 6 days using beehiiv, enabling rapid deployment and iteration.

beehiiv targets a broad range of newsletter creators and publishers across the creator economy spectrum, from individual content creators to established media companies.

Individual Creators and Writers: Solo creators building personal brands and monetizing their expertise through newsletters. These customers value the platform's ease of use, growth tools, and multiple monetization options.

Small to Medium Publishers: Independent media companies and digital publishers looking for a comprehensive platform to manage their newsletter operations. These customers benefit from the consolidation of multiple tools and professional-grade features.

Enterprise Publishers: Larger media organizations and brands that need scalable infrastructure, advanced analytics, and white-label capabilities. beehiiv offers customizable Enterprise solutions for these customers.

Sports and Entertainment Media: The platform has attracted significant traction in sports media, evidenced by Sapphire Sport's participation in the Series B round, indicating strong product-market fit in this vertical.

Business and Finance Newsletters: Following the founders' success with Morning Brew, beehiiv has natural strength in business and finance content, attracting creators in these categories.

Geographic Focus: While beehiiv is based in New York and serves primarily English-language creators, the platform is accessible globally and serves international newsletter creators.

The platform's freemium model with a free Launch plan for up to 2,500 subscribers enables beehiiv to capture customers early in their journey and grow with them as they scale.

beehiiv operates a hybrid business model combining SaaS subscriptions with advertising revenue, creating multiple revenue streams and aligning incentives with customer success.

SaaS Subscriptions (67% of revenue): beehiiv offers tiered subscription plans based on subscriber count and features. The company generated $20M from software subscriptions out of $30M total revenue. The pricing structure includes:

Advertising Revenue (33% of revenue): beehiiv's ad network and Boosts marketplace generated $10M in revenue, representing a third of total revenue. This creator-to-creator ad marketplace enables newsletter publishers to monetize their audiences while providing advertisers access to engaged newsletter readers.

Pricing Model: beehiiv uses tier-based pricing tied to subscriber volume buckets, with unlimited sends at each tier. This usage-based model scales with customer success and growth.

Customer Monetization: beehiiv enables customers to generate revenue through paid subscriptions, ad placements, and digital product sales, creating a platform ecosystem where both beehiiv and its customers benefit from audience growth.

beehiiv operates at the intersection of the email marketing software market and the emerging newsletter platform segment, both of which are experiencing strong growth driven by the creator economy and digital content trends.

The global email marketing software market provides the broader context for beehiiv's opportunity. The market was valued at USD 1.38 billion in 2023 and is projected to grow from USD 1.53 billion in 2024 to USD 3.73 billion by 2032, exhibiting a CAGR of 11.8% during the forecast period.

The more specific newsletter platform market represents beehiiv's direct TAM. This market is projected to escalate to USD 5.09 billion by 2033, reflecting the vital role newsletter platforms play in modern marketing, internal communications, and customer retention strategies.

With beehiiv currently at $30M ARR serving 90K customers, the company has captured less than 1% of the projected newsletter platform market, indicating substantial room for growth. The company's dual revenue model positions it to capture value from both software subscriptions and advertising, potentially addressing a larger TAM than pure-play SaaS competitors.

beehiiv's serviceable market includes individual creators, small to medium publishers, and enterprise media companies across all verticals. The platform's freemium model and scalable pricing enable it to serve customers from early-stage creators to established publishers, expanding the addressable market beyond traditional enterprise-focused email marketing solutions.

The newsletter platform and email marketing markets are experiencing accelerated growth driven by several converging trends in digital media and the creator economy.

The email marketing software market is growing at a CAGR of 11.8%, significantly outpacing general software market growth. The newsletter platform segment is expected to grow even faster as it benefits from the broader creator economy expansion.

Creator Economy Expansion: The rise of independent creators and the shift away from traditional media platforms is driving demand for tools that enable direct audience relationships. Newsletter platforms serve as the infrastructure for this creator-to-audience connection.

Data-Driven Content Delivery: The research underscores the growing importance of data-driven content delivery and automation in shaping the future of the newsletter sector. Platforms that provide sophisticated analytics and automation capabilities are gaining competitive advantage.

Platform Consolidation: Publishers and creators are seeking to consolidate their technology stacks to reduce complexity and costs. beehiiv's ability to help customers reduce 25 tools down to 7 aligns with this trend.

Monetization Focus: Creators are increasingly focused on monetization, driving demand for platforms that offer multiple revenue streams beyond subscriptions. beehiiv's ad network and marketplace address this need.

AI Integration: The integration of AI-driven website creation and content tools is becoming table stakes for modern creator platforms, with early adopters gaining market share.

Shift from Social to Owned Audiences: Creators are moving away from dependence on social media algorithms toward owned channels like email and newsletters, driving sustained growth in the newsletter platform market.

beehiiv operates in a competitive but fragmented newsletter platform market, competing with both established email marketing platforms and newer creator-focused tools.

Substack: The market leader in newsletter platforms, Substack focuses on simplicity and direct monetization through subscriptions. Substack prioritizes simplicity and direct monetization through subscriptions, suitable for writers focused on content rather than marketing complexity. Substack generates approximately $19M/year according to market estimates, making it comparable in scale to beehiiv.

ConvertKit (Kit): ConvertKit emphasizes advanced email marketing and automation and has reached approximately $38M ARR. ConvertKit targets professional creators who need sophisticated segmentation and automation capabilities.

Mailchimp: The incumbent email marketing platform with the largest market share, Mailchimp serves a broader market including e-commerce and traditional marketing use cases. While powerful, Mailchimp is less specialized for newsletter creators.

Ghost: An open-source publishing platform that competes in the newsletter space with a focus on independent publishers and membership models.

beehiiv positions itself as offering a blend of newsletter growth tools and interactive experiences, differentiating from Substack's simplicity-first approach and ConvertKit's automation focus. The platform competes by offering:

The company's positioning as an all-in-one platform enables it to compete across multiple segments simultaneously.

beehiiv was founded in 2021 by three former Morning Brew employees who bring deep domain expertise in newsletter growth and technology.

Tyler Denk serves as CEO and is the primary technical founder. He gained experience building the tech infrastructure for the popular business newsletter Morning Brew before founding beehiiv. During his tenure at Morning Brew, Denk spent three and a half years helping build many of the features that helped give Morning Brew its edge, eventually growing to 3.5 million subscribers and $20 million in revenue before getting acquired.

Denk graduated with a bachelor's degree in 2016 from the University of Maryland. Despite facing initial rejection from major tech companies as a self-taught developer, his persistence and technical skills led to his pivotal role at Morning Brew. His experience scaling Morning Brew's newsletter infrastructure directly informs beehiiv's product development.

In 2023, Denk earned a spot in the Forbes 30 Under 30 media list for co-founding a company with a $20 million valuation.

Benjamin Hargett is one of the co-founders who also worked at Morning Brew before starting beehiiv. His specific role and background at Morning Brew contributed to the founding team's comprehensive understanding of newsletter operations.

Jake Hurd rounds out the founding trio as a co-founder and Morning Brew alum. The three founders' shared experience at Morning Brew created the foundation for beehiiv's product vision and go-to-market strategy.

The founding team's collective experience building and scaling one of the most successful business newsletters provides credibility and domain expertise that differentiates beehiiv in the market.

While detailed information about the full executive team is limited in public sources, the company is led by the three co-founders who maintain operational control:

The lean founding team structure is typical of early-stage SaaS companies and reflects the founders' hands-on approach to building and scaling the business.

The company's board and advisory structure includes representation from its key investors:

Alex Lieberman: Morning Brew co-founder and investor in beehiiv, Lieberman provides strategic guidance and industry connections. His involvement adds credibility and access to the newsletter and media ecosystem.

Investor Board Representation: Following the Series B round, the board likely includes representatives from:

Social Leverage: As the seed round lead investor, Social Leverage likely maintains board involvement or observer rights.

The board composition reflects a balance of operational expertise from the founders and strategic guidance from experienced venture investors with relevant domain knowledge in SaaS, media, and creator economy businesses.

beehiiv has demonstrated consistent product innovation, evolving from a newsletter-focused platform to a comprehensive creator platform. The company's product roadmap reflects its ambition to become the operating system for the creator economy.

In November 2025, beehiiv launched significant new capabilities that signal a shift from a basic newsletter service to a comprehensive platform tailored for the creator economy. These enhancements include:

The roadmap demonstrates a clear strategy of horizontal expansion into adjacent creator needs while deepening core newsletter capabilities. The company is building a platform that addresses the full creator workflow from content creation to audience growth to monetization.

The addition of a Max plan with features like removal of beehiiv branding, support for up to 10 publications, and priority support indicates the company is moving upmarket to serve more sophisticated publishers while maintaining its freemium entry point.

The integration of AI capabilities positions beehiiv to leverage emerging technologies for competitive advantage, while the expansion into podcasting and digital products reflects responsiveness to creator needs beyond traditional newsletters.

beehiiv has demonstrated strong product-market fit across diverse customer segments, with case studies highlighting the platform's ability to consolidate tools and streamline operations.

A notable case study demonstrates the platform's value proposition in action. One magazine publisher was able to consolidate 25 tools down to 7 using beehiiv's comprehensive platform. The publisher leveraged beehiiv's intuitive editor, built-in ad tools, and mobile-optimized site builder to streamline operations, improve reader experience, and gain control over content delivery and monetization.

beehiiv serves a diverse range of customers across multiple verticals:

Business and Finance: Following the founders' Morning Brew background, beehiiv has strong traction with business newsletters and financial content creators.

Sports Media: The participation of Sapphire Sport in the Series B funding round signals strong adoption in sports media, with sports newsletters and content creators finding value in the platform's features.

Independent Creators: The platform's freemium model with a free Launch plan for up to 2,500 subscribers enables individual creators to start without upfront costs and scale as they grow.

Media Companies: Established publishers use beehiiv to modernize their newsletter operations and consolidate their technology stacks.

Customer feedback consistently highlights several key benefits:

The platform's ability to serve customers ranging from individual creators to established media companies demonstrates its scalability and broad market appeal.

While detailed technical architecture information is not publicly disclosed, beehiiv's technology stack reflects modern SaaS best practices and is designed to support rapid scaling and feature development.

As a cloud-native SaaS platform, beehiiv likely leverages modern web technologies and cloud infrastructure to deliver its services. The platform must handle:

The platform demonstrates several technical strengths:

Scalability: The ability to grow from launch to 90K customers and 6M+ subscribers indicates robust infrastructure that can handle significant scale.

Performance: The intuitive editor and mobile-optimized site builder suggest a focus on user experience and performance optimization.

AI Integration: Recent additions of AI-driven website creation demonstrate the company's ability to integrate cutting-edge technologies into the platform.

Multi-Channel Delivery: Support for email, web, and podcast hosting requires sophisticated content management and delivery infrastructure.

CEO Tyler Denk's background as a self-taught developer who built tech infrastructure for Morning Brew provides strong technical leadership. His experience scaling Morning Brew's technology to support 3.5 million subscribers informs beehiiv's technical architecture and scalability approach.

The platform's ability to enable customers to consolidate 25 tools down to 7 suggests comprehensive API integrations and a well-architected system that can replace multiple specialized tools.

beehiiv employs a multi-channel customer acquisition strategy that leverages both organic and paid channels, with a strong emphasis on product-led growth and community-driven adoption.

The platform's free Launch plan for up to 2,500 subscribers serves as the primary customer acquisition engine. This freemium model allows creators to start using beehiiv without financial commitment, reducing friction in the adoption process. As creators grow their audiences and need advanced features, they naturally upgrade to paid tiers.

Given the founders' background at Morning Brew, beehiiv likely employs sophisticated content marketing strategies. The company understands how to create compelling content that attracts newsletter creators and publishers.

The Boosts marketplace and creator-to-creator ad network create natural viral loops. When newsletter creators use beehiiv's ad network, they expose other creators to the platform, driving organic adoption through the community.

The platform's ability to help customers consolidate 25 tools down to 7 creates strong word-of-mouth marketing. Satisfied customers become advocates, particularly in tight-knit creator communities.

While specific partnership details are limited, the platform likely partners with creator education platforms, media companies, and other ecosystem players to reach potential customers.

For enterprise customers, beehiiv likely employs a direct sales approach, with custom Enterprise pricing and solutions tailored to larger organizations' needs.

The customer acquisition strategy reflects a deep understanding of the creator market, leveraging low-friction entry points and community-driven growth to scale efficiently.

beehiiv's go-to-market approach combines self-service SaaS with enterprise sales, optimized for different customer segments.

For individual creators and small publishers, beehiiv operates a fully self-service model. Customers can:

This low-touch sales process minimizes customer acquisition costs while maximizing conversion rates through product experience.

For larger organizations and media companies, beehiiv likely employs a consultative sales approach:

Founder-Led Marketing: Tyler Denk's visibility in the creator economy and his Forbes 30 Under 30 recognition provide credibility and attract attention to the platform.

Product Differentiation: Marketing emphasizes the dual revenue model, tool consolidation benefits, and growth features that differentiate beehiiv from competitors.

Customer Success Stories: Case studies demonstrating 25 tools consolidated to 7 provide concrete proof points for marketing campaigns.

Community Building: The Boosts marketplace creates a community of beehiiv users who interact and support each other, strengthening platform loyalty.

Vertical Focus: The company appears to be building strength in specific verticals (business, sports, media) where it can demonstrate deep expertise and capture market share.

Investor Partnerships: Strategic investors like Sapphire Sport provide access to specific verticals (sports media) and potential partnership opportunities within their portfolio companies

beehiiv has demonstrated exceptional revenue growth since its founding in 2021, scaling from zero to $30M ARR in approximately four years.

The company's revenue growth has been consistently strong:

This trajectory represents 100% year-over-year growth from $15M in 2024 to $30M in 2025, and 51.5% growth from December 2024 to June 2025.

beehiiv's dual revenue model shows a consistent split:

This 2:1 revenue split between SaaS and advertising has remained stable, indicating that both revenue streams are scaling proportionally.

While specific gross margin figures are not publicly disclosed, SaaS businesses typically achieve 70-85% gross margins. beehiiv's dual revenue model likely results in blended gross margins in this range, with software subscriptions contributing higher margins and the ad network contributing slightly lower but still healthy margins.

Specific burn rate and cash flow information is not publicly available. However, the company has raised over $40M in total funding and achieved $30M ARR, suggesting relatively efficient capital deployment compared to typical SaaS benchmarks.

While beehiiv has not publicly disclosed detailed SaaS metrics, we can derive insights from available data and make informed estimates based on the company's business model and performance.

Customer Metrics:

Total Customers: beehiiv serves 90K customers as of June 2025.

Total Subscribers Reached: The platform reaches over 6 million subscribers across all customer newsletters.

Average Revenue Per User (ARPU):

With $30M ARR and 90K customers, the blended ARPU is approximately $333 annually or $28 per month. This relatively low ARPU reflects the freemium model with a free Launch plan for up to 2,500 subscribers, meaning a significant portion of the 90K customers may be on free plans.

For paying customers only, ARPU is likely significantly higher, potentially in the $50-150/month range depending on subscriber counts and plan tiers.

Customer Acquisition Cost (CAC) and Lifetime Value (LTV):

Specific CAC and LTV metrics are not publicly disclosed. However, the product-led growth model with a free tier typically results in:

Churn Rate:

Churn data is not publicly available. However, the platform's ability to help customers consolidate 25 tools down to 7 suggests strong product stickiness, which typically correlates with low churn rates.

Unit Economics:

The dual revenue model creates favorable unit economics:

The company's ability to scale to $30M ARR with approximately $40M in total funding suggests healthy unit economics and capital efficiency.

Based on beehiiv's historical performance and market opportunity, the company is positioned for continued strong growth, though specific forward-looking projections are not publicly available.

Growth Trajectory Analysis:

beehiiv has demonstrated consistent 100%+ year-over-year growth, scaling from $7M in December 2023 to $30M in June 2025. This growth rate significantly exceeds typical SaaS benchmarks and reflects strong product-market fit.

Key Growth Drivers:

Market Expansion: With less than 1% penetration of the $5.09 billion newsletter platform market projected by 2033, beehiiv has substantial room for continued growth.

Product Innovation: Recent additions of AI-driven website creation, digital product sales, sophisticated analytics, and integrated podcast hosting expand the addressable market and increase ARPU potential.

Customer Growth: The freemium model with 90K customers provides a large base for conversion to paid plans and upselling to higher tiers.

Revenue Diversification: The dual revenue model with software subscriptions ($20M) and advertising ($10M) provides multiple growth levers.

Reasonable Growth Assumptions:

Given the company's trajectory and market dynamics, reasonable assumptions for the next 2-3 years include:

Risk Factors to Projections:

beehiiv competes in a dynamic newsletter platform market with several established players, each serving different segments with distinct value propositions.

Substack - Direct Competitor

Substack is the market leader in newsletter platforms, with an estimated $19M in annual revenue. Substack prioritizes simplicity and direct monetization through subscriptions, suitable for writers focused on content rather than marketing complexity.

Competitive Positioning: beehiiv differentiates by offering more comprehensive features, growth tools, and a dual revenue model. While Substack focuses on simplicity, beehiiv targets creators who want more control and sophisticated capabilities.

ConvertKit (Kit) - Advanced Automation Competitor

ConvertKit has reached approximately $38M ARR and emphasizes advanced email marketing and automation. ConvertKit targets professional creators who need sophisticated segmentation and workflow automation.

Competitive Positioning: beehiiv competes by offering comparable automation capabilities while adding unique features like the Boosts ad network and comprehensive web publishing tools.

Mailchimp - Incumbent Email Marketing Platform

Mailchimp is the largest player in email marketing with broad market reach, serving e-commerce, traditional marketing, and newsletter use cases. However, Mailchimp is less specialized for newsletter creators.

Competitive Positioning: beehiiv offers a more focused, creator-centric solution with better growth tools and monetization options specifically designed for newsletter publishers.

Ghost - Open Source Alternative

Ghost is an open-source publishing platform competing in the newsletter and membership space, appealing to technical users who want full control and customization.

Competitive Positioning: beehiiv offers a more accessible, fully-managed solution with superior growth features and ad network capabilities that Ghost lacks.

beehiiv represents a compelling investment opportunity in the rapidly growing newsletter platform and creator economy market. The company demonstrates exceptional execution with 100% year-over-year growth, reaching $30M ARR while serving 90K customers and reaching over 6 million subscribers.

Proven Founder-Market Fit: The founding team's experience building tech infrastructure for Morning Brew and scaling it to 3.5 million subscribers and $20 million in revenue provides unparalleled domain expertise. Tyler Denk's technical leadership and deep understanding of newsletter growth mechanics are evident in the product's competitive advantages.

Differentiated Business Model: The dual revenue model generating $20M from software subscriptions and $10M from advertising creates a more defensible moat than pure SaaS or pure marketplace competitors. This 2:1 revenue split aligns beehiiv's incentives with customer success while diversifying revenue streams.

Strong Product-Market Fit: The platform's ability to help customers consolidate 25 tools down to 7 demonstrates clear value proposition and creates strong switching costs. The comprehensive feature set including web publishing, email, subscriptions, content gating, analytics, and monetization positions beehiiv as the operating system for newsletter creators.

Large Market Opportunity: With the newsletter platform market projected to reach $5.09 billion by 2033 and beehiiv currently at $30M ARR, the company has captured less than 1% of the addressable market, indicating substantial room for growth.

Capital Efficiency: Reaching $30M ARR with approximately $40M in total funding demonstrates strong unit economics and efficient growth compared to typical SaaS benchmarks.

Product Innovation: Recent launches of AI-driven website creation, digital product sales, sophisticated analytics, and integrated podcast hosting demonstrate rapid product velocity and expansion into adjacent markets.