Membership promises to be such a powerful and scalable way to build a brand that it’s also catching the attention of investors. Why? Memberships offer recurring revenue and since not all of the perks are directly tied to physical goods, they can be delivered virtually 

Here’s what stood out:An obsession with efficiencyAlignment between product strategy and acquisition strategyA singular focus to build a magical, sticky product through rapid iteration and endless optimization

Transactional businesses are good. Subscriptions are a recurring revenue stream where users decide that they want your product—in this case, content—and then continue to pay for it so long as the content is providing them with the information and/or entertainment that they want.