They Earned $700K In 18 Months Then Got Acquired

Viktor Margeirsson and Gunnar Kolbeinsson built custom software for companies in Iceland 🇮🇸

Their pitch was 60-80% cheaper than the big software houses, because they leaned harder on AI.

One of the two rules Viktor wrote down at the start…

We will not increase head-count. No employees will be hired and if we need more resources, we’ll first try to solve our problems with AI Agents.

Projects brought in around $20K–$60K each, the big ones $130K–$180K 🤑

That paid the bills while they built products of their own.

Seven of them, four killed off early ☠️

The winner was Diskó, an SMS marketing tool for Icelandic businesses…

Found crazy product-market-fit after 1 month. 11k MRR in 3,5 months and now doing 20-30k a month depending on how many SMS messages are sent. ~70% margins.

Year one revenue was about $120K, and the 18-month total passed $700K.

Then Replit, the vibe-coding platform they built on, bought the company for an undisclosed sum 🔥

All the more impressive when you consider that Iceland’s population is only 395K, a “tiny market” as Viktor calls it.

Ask a local business what their last software quote came to, then offer the same build for half 👍

Get 10 more business ideas in your inbox each week