Ann: Quarterly Report for quarterly period ended June 30, 2022, page-74

Hi Block Bulls
I have been trying to find out how Cash App was able to scale to 47M MAU in such a short period of time.

Looks like it was a combination of amazing "product market fit" with innovative marketing. It reminds me of the story of Afterpay

The story goes when Square decided to start Cash App it was originally called Square Cash. It became popular with poorer communities in the US south. Many were unbanked and Square Cash was the first product that allowed them to manage their money. They loved and appreciated it. It became so much part of the culture that many of the music creators started singing songs about it. They also didn't call it Square Cash. They had a nickname for it "Cash App"
Square decided to adopt the nickname and Square Cash became "Cash App"
They also decided to double down on trend of music creators writing lyrics about Cash App and recruited some of the biggest social influences - the Rap stars. Think Snoop Dog. Instead of doing adds they would give the Rappers money to give away. Catch was to get the money you would have to download the Cash App to receive it. Who doesn't like free money especially if its coming from your favorite musician. Well it worked a treat. They were able to get lots of downloads at a fraction of the cost of traditional advertising and their customer acquisition costs were incredibly low.
They now have 47M MAU and 80M annual users. Those account figure numbers rival some of the biggest banks in the US who are over 100 years old.
Cash App is coming to Australia. Expect something innovative. Watch and enjoy.
Happy investing Go Block