An update on Quartz Sea

Two months ago, three of us started this firm with a simple conviction: Europe's markets are full of exceptional companies that go largely unanalyzed. Outside the largest names, both traditional sell-side research and independent boutiques leave most of the continent uncovered.

We think that's a mistake. There are real gems here: companies like Astor, Colt CZ, and Theon deserve the kind of depth usually reserved for far larger, more liquid names.

Two months in, we've built coverage across seven companies, published more than 20 research pieces, and grown our subscriber base well beyond what we expected for a niche this specific. We're grateful for that, and especially for the feedback many of you have taken the time to send us.

It's shaped what comes next.

We're now ready to move from this initial phase into something more structured and built to last. Here's what's changing:

Our Tiers, going forward:

• Basic Tier (free) Includes a weekly roundup of major news and events across the continent (Weekly Euro Brief , sent on Saturdays), our monthly QS Index performance update, and company updates like this one.
• Standard Tier (new — $20/month, billed annually) Includes all of our thematic research, primers, and geopolitical analysis.
• Premium Tier (now $275/month, billed annually, no trial) Includes our Initiating Coverage reports and all subsequent updates on covered names: the deepest layer of our research. While we are removing the 7-day trial, we want to make this tier easy to evaluate up front. Therefore, every Premium piece will become freely available six months after publication: that means anyone can see the caliber of our Premium research firsthand, even before subscribing.
• Enterprise Tier (unchanged) Seat-based pricing, with an additional fee for redistribution rights, as before.

What this means if you're already subscribed

• To make sure you don't miss a beat, we’ve added our new Weekly Euro Brief to your current subscription, starting today. If it's not for you, no problem:you can opt out here by unselecting "Weekly Euro Brief" without affecting your other newsletters.
• Current Free Tier subscribers will receive two months of the new Standard Tier, on us. You were with us from the beginning, and this is a small way of saying thank you.
• Current Premium Tier subscribers will keep their current price indefinitely: no change, no action needed, no expiration on this. You took a chance on us when we were still finding our footing, and we wanted our earliest supporters to be the ones most protected as we grow, not the first to feel the impact of it. Thank you for that early trust, it means a great deal to us.

These changes take effect today. If you have any questions about how this affects your subscription, we're glad to help.

Thank you all for being part of this from the start.

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