Newsletter platform Beehiiv has surpassed $20 million in annual recurring revenue (ARR) just 3.5 years after launch, according to a post on LinkedIn by CEO Tyler Denk (pictured above). Denk added that Beehiiv’s Ad Network and Boosts products contributed another $10 million, pushing total revenue to around $30 million. Competing with other newsletter platforms like Substack, Beehiiv differentiates itself with a built-in ad network that connects newsletter creators directly with brands for sponsorships and ad placements, charging users based on a tiered subscription. The platform uses a tiered subscription model for its pricing. Substack, however, takes a standard 10% cut of subscription revenue from paid newsletters. Beehiiv has benefited from creator departures from Substack due to concerns about politically extreme content.