Add a white-label VPN inside the main app's premium plan

Greg Cohn… solving that problem. But sometimes those problems are big. We're still a relatively small team. We're about 30 people, and that's healthy, but it's a complex app. It's mature. There's a lot to do across core and product and growth and operational stuff. And so, the biggest single feature we launched that was an expansion of the product portfolio is in the first quarter of 2025, we launched a VPN. And VPN is its own category on the app store.

Greg CohnYou've probably studied that in detail here and there's PE stage companies in the VPN space and there's a lot of small ones. And we didn't necessarily set out to take over that category so much as to broaden the offering of Burner by building that in. There's a like-minded customer who's concerned about their privacy to some degree or looking to hire tools that give them more control really ultimately over how they're seen and how their identity is understood on the internet. So, you can be who you want to be and be where you want to be with a VPN. So, that particular product we did with a partnership and it's a white label partnership as a provider.

Greg CohnAnd when we were able to integrate that, it was still a pretty significant investment for us. And we had to make that investment without... It wasn't easy to validate that need. So, it ended up being an expensive investment. It's driven a lot of value and growth of our premium tier, of our premium skew. But for us, it represents an example of a buy, build, partner type of portfolio approach, right? So, we decided to partner in that particular case, and it was the build aspects of even in a partner strategy were still expensive, right? But if we had decided to go become a VPN company and build that from scratch and build all the expertise necessary for that.

Greg CohnAnd by the way, that product exists in the Burner app and there's a desktop version of it on Mac and Windows, right? So, it's a 360 product. It's an expensive investment.