What Email Newsletters Are Really Worth: How Buyers Should Underwrite Subscriber Lists, Churn, and Monetization Before They Bid
If you have spent any time on the digital acquisition marketplaces in the past year, you have noticed something: newsletter deals are everywhere. Substack newsletters, beehiiv publications, ConvertKit-powered email communities — they are all trading hands, and sellers are asking for multiples that, on the surface, look a lot like SaaS businesses. Three times revenue. […]