Mullvad VPN
67
Quality Score
Solid
Mullvad VPN
Medium confidence
✍️ bumetric analysis
“
Mullvad VPN is an iOS app from Mullvad VPN AB in the Utilities category, currently rated 4.1★ across 1,332 ratings. Initial signal reads as mixed reviews: supporters praise core features while critics cite stability and value gaps.
Quality Score is 67: Solid (established niche player). For a Utilities app, that means established niche player. The full BU Investment Matrix below scores 8 dimensions including monetisation, growth, and operational risk.
Track changes month-over-month in the Performance section below: live snapshot history and revenue forecast included.
💰 Monthly revenue · now vs forecast
● Right now
$8.0K
per month
→
12-mo forecast
$7.0K – $25.3K
per month
→
24-mo forecast
$6.5K – $58.5K
per month
INDIE tier
💡 Grow this revenue
Free AI audit of this app’s store listing
- Title & subtitle keyword fit
- Description hook & conversion structure
- Screenshots, ratings, reviews strategy
Typical impact: +2-5× organic installs
📊 Performance Tracking LIVE
Loading…
Rating
—
Reviews
—
Forecast Revenue / mo
—
Snapshots tracked
0
since first record
🤖Also on Android
$212/mo · 7K ratings · 4.2★
View →
ONE-TIME · BUILD
💰 Estimated build cost
$45K
↳ What it cost to build · not monthly revenue
Likely range $35K – $60K
$25K · MVP floor
$100K · indie scale
$500K+ · studio build
📈
Pays back in ~3 months at current MRR
Synthetic estimate. Inputs: category complexity, file size, screen count, monetization layer, platform reach, age × team-size proxy. Calibrated against 2024-2026 indie-agency rate surveys. Full math + source list on /methodology.
Where the money goes
| 🧱 MVP baseline (design + 1-store ship) | +$28K |
| 📱 5 unique screens × $4.5K | +$22K |
| ⚙ Utilities complexity ×0.85 | $-7575 |
Total estimate
$45K
ONE-TIME · EXIT VALUE
💵 Estimated acquisition value
$225K
↳ What it would sell for · not monthly revenue
Marketplace range $175K – $300K · 14× MRR multiple
💸
~5.0× return on build cost
Synthetic estimate. Multiple band derived from ad-supported + age, rating quality, category demand, and user-base maturity. Calibrated against 2024-2026 indie-app-marketplace closed-deal medians. Full math + comparable deal list on /methodology.
How the multiple was built
| 📺 Ad-supported base | 15× MRR |
| 🏷 Utilities category multiple | -10% |
Final multiple
14× MRR
👥 Estimated audience size
265K
Lifetime downloads (US-equivalent)
Monthly active
53K
Daily active
10K
Synthetic estimate from ratings × category benchmarks. Calibrated against 2024-2026 mobile-attribution retention + DAU/MAU reports. Numbers are US-storefront-equivalent — true global audience can be 5-10× larger for international apps. Full math + source list on /methodology.
How we sized it
| 📲 Utilities engagement | ~200 installs / rating |
| 🔁 Utilities D30 retention | 20% |
| 📍 DAU / MAU stickiness | 0.20 |
DAU / MAU
20% sticky
🔬
How we forecast this revenue
MEDIUM CONFIDENCEBaseline
$8.0K/mo · ML-estimated from 234 triggers
Growth rate
+6.0% MoM · INDIE tier baseline (compound monthly)
6 months
$6.8K – $15.9K
12 months
$7.0K – $25.3K
24 months
$6.5K – $58.5K
Compound growth at +6.0% MoM (tier baseline for INDIE). Range widens with horizon — typical noise band ±40% at 6mo.. Ranges widen with horizon — distant futures carry more uncertainty.
📊
BU Investment Matrix
Early-stage solo · 47/100INDIE TIERexpected for tierGrowth Velocity
5.0
Founder Strength
5.2
Product Quality
7.5
Revenue Strength
3.9
Monetization Maturity
1.0
Defensibility
5.0
Market Position
0.0
Operational Safety
10.0
- 💰 Revenue: Modest — $3K - $15K/mo · INDIE tier · medium confidence, trajectory unclear.
- ⭐ Quality: 4.14★ across 1,332 reviews — solid.
- 📍 Market: Not yet charting in any of the 9 monitored markets.
- 📈 Growth: Insufficient signal to assess trajectory.
- ⚠️ Risk: Low — no material risk signals detected.
🎯 For competitors: Mixed picture. Worth competing if you have a clear UX or pricing edge — otherwise crowded segment.
💵 For acquirers: Estimated asking range 18-32× monthly = $144K-$256K. Portfolio play ($16K/mo combined) commands premium.
Composite of 8 dimensions computed deterministically from public signals — no LLM, every score traces back to a measurable input. Default weights shown; "compete" / "acquire" / "invest" lenses re-weight without re-fetching.
Range:
💰 Forecast Revenue / mo
MODELRevenue forecast computed from BU's 234 trigger model on each snapshot. Calibrated against ground-truth from 58 verified-revenue apps.
🔬Forecast Breakdown — Why This Estimate?Top 10 of 10 triggers
Our ML model uses 200+ signals from public data. These are the most influential for this app:
| Paid app ($0.00)METRIC | +$2,800 | |
| worth every pennyREVIEW | +$2,000 | |
| bugsREVIEW | −$1,800 | |
| 5 starREVIEW | +$1,800 | |
| Low install base (1,332 ratings)METRIC | +$1,500 | |
| Multilingual (20 languages)METRIC | +$1,500 | |
| highly recommendREVIEW | +$1,400 | |
| slowREVIEW | −$1,200 | |
| Good rating (4.1★)METRIC | +$800 | |
| Established app (6y old)METRIC | +$800 |
METRIC = structural app data · REVIEW = mined from user reviews · ✓ VERIFIED = Stripe-verified anchor (TrustMRR)
📈 Reviews Growth
LIVECumulative review count from first BU snapshot. Each point = a tracked update.
⭐ Rating Trend
LIVEAverage rating evolution. Updates with each new review batch.
🆕 What's New · v2026.2
Add "Force all apps" feature, which mitigates TunnelCrack and other attacks.
Add LWO obfuscation method.
Add button to refresh relay list manually.
Add Ukrainian language support.
Add LWO obfuscation method.
Add button to refresh relay list manually.
Add Ukrainian language support.
Profile & Insights
Everything we know — and don't — about this app and its company.
Identification
- App name
- Mullvad VPN
- Developer
- Mullvad VPN AB
- Bundle ID
- net.mullvad.MullvadVPN
- App Store URL
- Open in App Store
- Category
- Utilities
- Content rating
- 4+
- Languages
- MY, DA, NL, FI, FR, DE, IT, JA, KO, NB, PL, PT, RU, ZH, ES, SV, TH, ZH, TR, UK
Company
- Website
- Not found
- Tagline
- Privacy is for the people
- Description
- Free the internet from mass surveillance and censorship. Fight for privacy with Mullvad VPN and Mullvad Browser.
- Founded
- Not found
- HQ / Address
- Not found
- Employees
- Not found
- Logo
- Available
Revenue
- Verified revenue / mo
- Not found
- AI revenue estimate / mo
- Not found
- AI annual estimate
- Not found
- ML model estimate / mo
- $16.6K/mo
- Top-grossing rank
- 🇩🇪#10 /100 🇬🇧#18 /100 🇦🇺#19 /100 🇫🇷#21 /100 🇨🇦#22 /100 🇮🇳#28 /100 🇺🇸#39 /100
- All-time revenue
- Not found
- Pricing
- Not found
Founder
- Name
- Not found
- X / Twitter
- x.com/mullvadnet
- Not found
- GitHub
- github.com/mullvad
- X followers
- Not found
- Public statements
- Not found
Funding
Funding data not yet collected for this app.
Press & Links
Press & Links data not yet collected for this app.
Contacts & Socials
- Socials
- github github.com/mullvad · twitter x.com/mullvadnet · youtube youtube.com/c/MullvadVPNNet
- support@mullvadvpn.net
- Phone
- 53049 400 14
- Contact page
- mullvad.net/en/help/mullvad-browser-e…
- About page
- mullvad.net/en/about
📈Ratings growth1,332 ratings+77% lifetimeShow 3-year history estimate ▾
Tracked (54 weeks) Pre-tracking estimate (36 weeks) · model-based, ±5% noise · anchored to release date and current value
🌍Top Countries — Grossing Rank7 countries
🇩🇪DE#10 /100
🇬🇧GB#18 /100
🇦🇺AU#19 /100
🇫🇷FR#21 /100
🇨🇦CA#22 /100
🇮🇳IN#28 /100
🇺🇸US#39 /100
📊Category Rank Trajectory#10 now · best #10 · worst #21
Lower line = better rank · Estimate from ratings growth model · Lower position on chart = worse rank · Higher = top of chart
Profile is built from iTunes Lookup + developer site scrape + ML revenue model. Empty fields show "Not found" — additional sources (Crunchbase, X, IndieHackers, Acquire.com) coming.
📝 About this app
Free the internet from data collection with Mullvad VPN – a service that helps keep your online activity, identity, and location private. Only €5/month.
GET STARTED
1. Install the app.
2. Create an account.
3. Add time to your account via in-app purchases, vouchers or on our website.
To make sure to block third-party cookies and other tracking technologies – use Mullvad VPN together with Mullvad Browser (free of charge).
ANONYMOUS ACCOUNTS – NO ACTIVITY LOGS
* Creating an account requires no personal info - not even an email address.
* We keep no activity logs.… View full description on the official store →
GET STARTED
1. Install the app.
2. Create an account.
3. Add time to your account via in-app purchases, vouchers or on our website.
To make sure to block third-party cookies and other tracking technologies – use Mullvad VPN together with Mullvad Browser (free of charge).
ANONYMOUS ACCOUNTS – NO ACTIVITY LOGS
* Creating an account requires no personal info - not even an email address.
* We keep no activity logs.… View full description on the official store →
App Specs
🔐 Own this app? Claim & verify MRR →💾 46 MB🔞 4+📱 iOS 17.0+🔖 v2026.2🔄 updated 0d ago🌐 MY, DA, NL, FI, FR +15📂 Utilities💰 Paid
📅
What Worked™ · Development Pipeline
11 EVENTS TRACKEDDetected changes in this app over its tracked lifetime — each event links cause (what changed) to effect (what moved). Sorted newest first.See full history →Version history →
2026-05
⭐
Rating ↑ 3.23 → 4.15 (improved 0.92★)
2026-05
📈
Crossed 500 ratings — social-proof flywheel kicking in
2026-03
⭐
Rating ↓ 4.50 → 3.24 (dropped 1.26★)
2026-03
⭐
Rating ↑ 3.23 → 4.50 (improved 1.27★)
2026-03
📈
Crossed 500 ratings — social-proof flywheel kicking in
2022-10
📈
Crossed 100 ratings — social-proof flywheel kicking in
2021-05
📈
Crossed 50 ratings — social-proof flywheel kicking in
2020-05
📈
Crossed 10 ratings — social-proof flywheel kicking in
2020-04
⭐
Rating ↓ 4.71 → 4.38 (dropped 0.33★)
2020-04
🚀
First tracked snapshot — initial data captured
2020-04
⭐
Rating ↓ 5.00 → 4.50 (dropped 0.50★)
🔔
Track this app’s revenue
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📝 Description
95
BU Score · Transcendent
Full revenue analysis
Read the article-style breakdown for Mullvad VPN: category rank, percentile, growth signal, comparable apps, and how the forecast is calibrated against verified-MRR anchors in this niche.
More by Mullvad VPN AB
View all →📦 Portfolio summaryINDIE studio
2apps·$16K/mocombined
⚠ Concentrated — top app contributes 99% of combined revenue (single-app dependency)
Similar apps in Utilities
About this analysis
Why medium confidence: 1,332 ratings · no founder-verified revenue (model estimate only).
❓ Frequently Asked Questions
4 answers · auto-generated from this app's public dataHow much does Mullvad VPN make per month?▴
Based on our ML-calibrated revenue forecast, Mullvad VPN earns approximately $16K/mo. This is a US-storefront-equivalent estimate; global revenue can be several times larger for internationally-distributed apps. See the methodology page for the full formula and confidence bands.
What apps are like Mullvad VPN?▴
Browse the full Utilities category catalog to find similar apps with revenue, build cost, audience and tech stack data. Each /p/{slug} page also shows a Compare side-by-side widget with three peer apps from the same niche.
Who makes Mullvad VPN?▴
Mullvad VPN is published by Mullvad VPN AB on the Apple App Store. See the full publisher portfolio (other apps by the same developer) via the More by developer block on the product page above.
What is Mullvad VPN's BU Score?▴
Mullvad VPN has a BU Score of 67/100 (Solid). The score combines App Store rating, ratings count, monetization model and revenue signals calibrated against founder-verified MRR anchors. See the BU Score formula.