MRR journey
Mullvad Has Not Raised Its Price Since 2009. Revenue Grew 7.7x Anyway.
Mullvad VPN AB's audited turnover ran SEK 40.7M (2020) to SEK 314.8M (2024), a 7.7x rise on a price that has not moved since 2009. The Swedish filings also show why page-one aggregators are out by a factor of eight, and what happened after the company removed recurring subscriptions in June 2022.
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