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How Cash App Grew 60% Each Year With Viral Influencer Marketing
A case study of a startup gaining millions of users
Cash App is a mobile payment service developed by Square Inc.
In 2020, it reached 24 million active users in the US, growing 60% year-on-year and three times over the past three years.
Its annual net revenue grew to 1.11 billion, a 157% increase year-on-year.
The key to this tremendous success is Cash App’s unique viral and influencer marketing strategy.
The Prerequisites
Behind every successful viral marketing campaign, there is a great product. The Cash App application has to be well-built with strong product-market fit in order for any marketing to be useful.
So how does Cash App work?
Cash App is a mobile application that allows users to send and receive money for free. It does so by providing each user with a unique identifier — which, in Cash App terminology, is referred to as $Cashtag.
A $Cashtag is a unique identifier for individuals and businesses using Cash App. — Cash App
In order to send money to other people, all we need is their $Cashtag, making the process of peer to peer transfer extremely quick…
