Bloomberg: Cash App (CA) testing free stock trading feature, much like Robinhood

Robinhood investors payed ~$1300 per user in latest round, while one CA user is currently valued at ~$124 (adjusting SQ mark. cap. for CA revenues)

Talk about high multiples in the private market
CA had approx. 23m actives in Q2 they could push the feature out to, Robinhood probably around 5m

VCs payed 10x the valuation per user for a company with little to no network effects, higher CAC and smaller user base compared to CA (and CEO with questionable views on regulation)
As @_SeanDavid points out, there are many other perspectives to this. With Payroll, could even turn the feature into a 401k style product for merchant employees

(See announcement in light of Square's latest apparent acquisition, a brokerage API company…)
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