How Beehiiv Is Taking on Substack

Newsletter publishers are having a moment again. Beehiiv, a four-year-old competitor to the larger and older Substack, is on pace to double its total revenue this year, to $30 million, CEO and co-founder Tyler Denk told my colleague Akash Pasricha on Tuesday during an interview on TITV, The Information’s new daily streaming show. 

Investors valued Beehiiv at $225 million last year, and Denk hopes the startup can get to profitability next year. He’s been playing up how Beehiiv’s products and business models are different from Substack, which recently fetched a more than $1 billion valuation and has been expanding its app to add video, livestreaming, audio and social features. It’s not clear how much revenue Substack is generating.  

“Substack’s actually closer to building a social network competing with an X and a Threads, more so than an open newsletter platform and website builder that we are building,” Denk said.