The Ledger
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Denk: 10% to 15% of beehiiv users are net positive on fees
“If 25% are actively monetizing on a month-to-month basis I don't know, probably half of that are net positive because we are very affordable, so probably I'd say 10, 15% are net positive.”
Denk: beehiiv sends 1.3B emails monthly to 150M-200M unique subscribers
“So we're sending what, 1.3 billion emails a month right now, and active readerships usually I think about 10 per, 10%, probably like a 150 to two hundred million subscribers, unique subscribers across the ecosystem.”
Denk: beehiiv ad network places top brands in small newsletters
“With our marketplace, we can actually place high quality ads like Netflix, HubSpot, Betterment into your newsletter. And you're monetizing and again, cashflow positive month one.”
beehiiv generates $800k to $900k monthly SaaS revenue plus ad income
“The SAS business is purely has nothing to do with ads. That is people paying us a monthly or annual recurring subscription for the SAS platform. And that's at eight to 900,000 a month. Currently the ad network itself is bringing in another several 100,000 doll…”
Denk: beehiiv generates $1.2M to $1.4M in total monthly revenue
“Overall revenue as of like this recording is about 1.2 to 1.4 million is what will end up this month.”
Denk: There is a big difference between early employee and founder money
“There's a big difference between early employee money and founder money.”
Denk: beehiiv raised $33M Series B led by NEA in March 2024
“So we did, I can give you our whole funding background, 2.6 million in the fall, summer of 2021. We did another one point sinks, just like a seed extension in, I'd say, May of 2022, kind of like a, hey, we have product market fit. We need a few more hires. Tha…”
Denk: beehiiv reached $225M valuation in Series B round
“So the valuation is actually public. So it's, it was two 25. So less about valuation, more about ownership, having enough capital to build the business.”
Denk: beehiiv Counts Netflix, HubSpot, and monday.com as Advertisers
“We have advertisers like Netflix, HubSpot, monday.com, Betterment, that are looking to reach these niche audiences of newsletters, and we help connect them so you can send a newsletter with the premium sponsor without having a sales team.”
Denk: Ad networks require massive SaaS-driven impression volume before monetizing
“The ad network was always something that we wanted to build, but you can't build an ad network with a few 100,000 impressions. We had to build a SaaS platform that was really good that attracted newsletters to move over, which brought more email sends impressi…”
Denk: Revenue is the ultimate North Star because it reflects retention and conversion
“Revenue is easy because it actually means you do so many other things. Right. Right. Like if retention is important to you, but a decrease in revenue will show that you aren't retaining users. Or if a decrease or slowing of revenue shows that you aren't attrac…”
Denk: beehiiv has approximately 20,000 active publishers on its platform
“We have about 20,000 active publishers on the platform today.”
Denk: 20% to 25% of active beehiiv users monetize monthly
“I believe right now we're at 20 to 25% of active users have monetized in the past 30 days.”
Denk: beehiiv did between $6M and $8M in revenue in 2023
“I think last year we did between six and eight million in revenue for the year.”
Denk: beehiiv required a $40K-$75K upfront SendGrid contract early on
“We are built on top of SendGrid, which is like an email engine to actually send and distribute the emails. And to get the attention that we needed from them, we needed like an annual contract with some sort of like volume lock-in, which is like, I don't know, …”
Denk: beehiiv founders retain board and operating control post-Series B
“There's ownership of like raw percentage of the business that you have outstanding. And then also like who controls the board, who has like the rights to be able to make the core decisions of which we are in control of the business.”