Divly

How We Navigated the Crypto Winter to Keep Our Tax Business Alive [Update]

Carl Gärdsell
Founder, Divly
$10K
revenue/mo
2
Founders
3
Employees
Divly
from Stockholm, Sweden
started June 2021
$10,000
revenue/mo
2
Founders
3
Employees
market size
$10.9B
avg revenue (monthly)
$190K
starting costs
$11.7K
gross margin
93%
time to build
150 days
average product price
$188
growth channels
Word of mouth
business model
guide
best tools
Instagram, G Suite, Facebook
time investment
Full time
pros & cons
39 Pros & Cons
tips
4 Tips
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platform
email
customer service
reviews
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analytics
design
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Want more updates on Divly? Check out these stories:

Hello again! Remind us who you are and what business you started.

My name is Carl and I’m one of the two founders of crypto tax platform Divly. We help customers calculate and declare their crypto taxes without the headache. It's been over a year since I shared the beginnings of my journey on Starter Story and it’s time to follow up with a year in review.

Our growth forecasts got slammed by the crypto winter due to the massive drop in crypto trading volumes. Fewer crypto traders and investors means fewer crypto tax reports sold. At the same time, a new directive in the EU has been announced that completely changes the prospects of our industry for the better. It’s a rollercoaster! I suspect that in the coming three years this industry will grow 20x, and that’s my pessimistic forecast.

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