How Much Do Services for Arbitrageurs Earn: 6 Cases

If you ask media buyers what interests them most, the answer is always the same — statistics. Numbers only appear in case studies or interviews, and even then rarely. Yet many people want access to exclusive data. 

Today we're talking about the money that affiliate services generate. We've compiled financial figures for six well-known projects. 

Disclaimer on Data Collection

The affiliate marketing industry is growing at a rapid pace, but the trend toward legitimization only emerged a few years ago. Some products still haven't registered legal entities — or keep them out of public view. 

The data was sourced from open sources, and verifying its accuracy is not possible. These are company financial reports from various aggregators and public registries. Whether to trust them 100% is a rhetorical question. 

We excluded overtly Russian services, though verifying the geography of legal entities can sometimes be difficult. The goal of this piece is to show how much profit affiliate tools can generate. 

Keitaro

Years on the market: 7

Country of registration: 🇪🇪

One of the top trackers for media buyers, targetologists, and other specialists. It's still recommended in Ukrainian affiliate chats, although some conscientious webmasters have suggested many alternatives with detailed reviews. 

Six years ago, the founder of Keitaro registered a legal entity in the Republic of Estonia. According to the latest report, APLITENI OÜ generated €881,000 in revenue and €438,000 in net profit for 2022. 

Notably, in Q3 2023 the company paid just €2,650 in taxes to the Estonian budget, and €56,000 in 2022. In Q1 2024, the figure was roughly the same — €2,336. It appears the legal entity is being maintained with minimal tax contributions simply to hold a foreign registration. 

In Russia, the founder of Keitaro holds an active sole proprietorship. No changes to its status have been recorded since 2022, but unfortunately no data on taxes paid could be found in the public domain. Though there's little doubt they are being paid — otherwise, debt records would appear in the registry. 

Multilogin

Years on the market: 10

Country of registration: 🇪🇪

One of the most recognized brands in the antidetect browser niche. The service sits in the mid-budget product segment. The minimum monthly plan costs €100 for 100 profiles. 

Since 2014, MULTILOGIN SOFTWARE OÜ has been paying taxes in Estonia. The chart below shows that over recent years, average revenue has been €5–8 million, with ≈€2 million in net profit. 

Compared to the previous company, the tax reporting looks considerably more transparent. In Q1 2024, Multilogin paid €173,000 to the budget. According to available data, the startup has 7 employees, with an average salary of €6,100. 

Dolphin

Years on the market: 3

Country of registration: 🇨🇾

Dolphin has only been around for 3 years, yet it regularly tops niche rankings. It was founded by Russian entrepreneur Denis Zhitnyakov, who lists Cyprus as his location on LinkedIn. 

In February 2022, the owner registered ZHITNYAKOV SOFTWARE SOLUTIONS LTD in Cyprus. No financial reports are publicly available, making it difficult to draw conclusions about revenue. 

However, data on Denis does appear in the Russian taxpayer registry. The financial figures — generated not only by Russian clients — are visible in the screenshot below. Draw your own conclusions about contributions to the budget.

55+ affiliate marketing services from Ukrainian and international developers. No Russians.

Incogniton

Years on the market: 4

Country of registration: 🇳🇱

Product development began in 2019, with the public version launching in 2020. The browser is relatively new to the market but has gained traction among media buyers. A free version is available, along with a budget plan at €30. 

Tracking down the financial reports of Workinggreen B.V. proved challenging, but the task was ultimately completed. As of 2022, the company reported a balance of €496,000. Tax payment data is not included in the report. 

iMonetizeIt

Years on the market: 10

Country of registration: 🇭🇰

iMonetizeIt is best known as a dating network, but IMONETIZEIT LIMITED also includes the tracker AdsBridge, meaning part of the company's revenue is also generated through SaaS. 

Financial data varies across sources — on average, it amounts to $2–5M in annual revenue. However, the marketing platform Apollo.io reports $50M in revenue, which appears closer to reality. 

RedTrack 

Years on the market: 5

Country of registration: 🇨🇾

RedTrack positions itself as an alternative to Keitaro and other well-known products. The platform offers automation of routine tasks when working with ad platforms and ad tracking.

RedTrack Technologies Ltd, according to the latest reports, generated $953,000 in 2023 — and previously raised $1.3M in investment. As the chart shows, revenue has been stable and growing over the past several years. 

SaaS platforms and desktop software for affiliate marketing can generate hundreds of thousands of dollars per year, but we don't have visibility into expense reports. As such, the figures are approximate and do not fully reflect the financial position of these companies.