Codengo.com is a ghost ship sailing on the winds of AI hype—minimal crew, no visible deck, yet somehow hauling in $300K annually by capturing the misspellings and mishaps of millions searching for Google's own AI tools. It's not a startup; it's a search arbitrage masterpiece hiding in plain sight.

"They aren't building a product; they're intercepting typos in the most valuable queries on earth."

The most telling metric isn't the revenue or the team size—it's the traffic discrepancy. They report 119 monthly visits, yet target keywords with nearly 18,000 searches. This suggests either a catastrophic data capture failure (unlikely) or a rotation of domains and redirects that keeps them off the radar. They're not playing the long game; they're playing the arbitrage game, extracting value before Google catches on and de-ranks them.

• Revenue-per-employee: $75K (if they're even full-time)
• Traffic acquisition cost: $0 (they rank for typos)
• Product moat: None. Google could fix this with a single regex update.
• Defensive strategy: Stay small, stay invisible, stay profitable.