Bitcompare

By focusing on just a few things that we knew were working, we've managed to grow at more than 100% MoM for the last 6 months.

In addition to that, we're profitable and hiring more people.

While all of this sounds good, we are too dependent on SEO and the competition is getting more sophisticated.

We figured out a new business model to help us earn significantly more money, but now we may have figured out a distribution model to help us exponentially grow our volume.

If this works, it could mean we’ll go from being a small indie project with small, humble ambitions to a potentially medium to larger business, all while bootstrapped.

We can’t confirm if this is definitely going to work, but it’s looking good so far.

We’ll update if things progress.

We had commercial agreements in place with all partners at www.bitcompare.net but there were all sorts of problems. It was an affiliate agreement which led to tracking issues, expensive software to manage for both parties.

We switched our business model to SaaS and CPC and we grew our revenue massively overnight.

To our surprise, our partners accepted it. In the end, it’s easier for them and us.

I think people are always so focused on volume and growth instead of just focusing on their unit economics and business model innovation.

We recently launched our advertising products at www.bitcompare.net and they're being snapped up as our audience is so targeted and converts incredibly well.

Our revenue is really starting to go up now. It's so exciting to see and it's feeling less like a high-risk, speculative startup and more like a semi-risky small business.

We're reinvesting that revenue to accelerate growth with the hope to be profitable by next year.

As our traffic at www.bitcompare.net and brand is increasing, we're now starting to sign larger partnership deals. What's most encouraging is that they're repeat purchases which means our partners are happy.

We're currently using all of this new revenue to reinvest in the company as it's not enough to start paying full time salaries yet.

We're aiming to get to profitability by end of year. It's a very very tall order but in some ways, we're doing better than we expected.

Let's see...

I mentioned a month ago that we took a massive SEO hit after making URL changes at www.bitcompare.net. We knew we'd take a hit, but didn't expect it to be so big.

It definitely shook us but we've invested in high quality content and pages so I was fairly confident it'd bounce back eventually.

The good news is that it hasn't just caught up to where we were, it's now really starting to blow past it.

We made the changes because our URL structure wasn't scaling for a much larger site that we've been planning to launch. The URLs weren't logical and it didn't make sense for a lot of our landing pages.

The idea was that it would be short term pain for long term gain. Let's see if that holds true.

In case anyone else is going through a similar thing, feel free to reach out and I'll happily advise.

Hey guys,

We put a lot of effort into building these widgets https://bitcompare.net/widgets

First of all, I'd really like your feedback on them. Secondly, we'd love some tips on how to go about getting people to install them on their site.

What would you recommend? We'd like to put this hard work to use.

Thanks!

Last week we launched crypto interest calculators to help you earn the maximum amount of interest. You can compare across all the leading providers including BlockFi, dYdX, Nexo and many others.

Earning interest on Bitcoin, Ethereum and others is a relatively new thing and we thought having the ability to see where you can earn the maximum interest could be a useful thing.

It seems to be the most popular feature on the site this week, so it's a good start. We'll have to see if it continues.

You can check it out here https://bitcompare.net/interest-calculator/bitcoin

After getting a lot of feedback that people want to see the best DeFi rates as fast as possible on the homepage, we updated everything.

Now you can view and filter the best DeFi rates on www.bitcompare.net

This meant we had to update our profile pages and API.

Would love your feedback?

We've been laser focused on SEO since the beginning at https://www.bitcompare.net.

This seems to be paying off now that we're ranking #1 for core keywords like 'crypto savings accounts' etc.

What's best is that this traffic is sustainable and it's free. It seems to be compounding and because this traffic is intent driven, our conversion rates are nearly 9%, which seems high.

Now that the formula seems to be working, we have to figure out how to scale this out to much bigger numbers.

Our aim is to build something that scales enough for five of us to quit our jobs. The timeline is by the end of the year.

Very ambitious, but let's see.