We think Cash App crossed 30 million MAUs in recent weeks and ended 2019 with 29 million MAUs, up from 15 million in 2018 and 7 million in 2017.
Venmo, according to our model based on Venmo's API, crossed 25 million MAUs in late 2019.
How did we arrive at those numbers?
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Venmo, according to our model based on Venmo's API, crossed 25 million MAUs in late 2019.
How did we arrive at those numbers?
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Venmo's API gives us unique insight into Venmo's growth, as we'll show in a forth coming whitepaper in more detail.
We found strong correlation between Google Search Data and Venmo's monthly sign-ups from we know from the API, as can be seen below. R² of 0.988.
We found strong correlation between Google Search Data and Venmo's monthly sign-ups from we know from the API, as can be seen below. R² of 0.988.
Via cohort analysis (API), we have insight into Venmo's churn rates and can back into MAU numbers. The Cash App model takes into account this knowledge gained from Venmo's API, Google Trends data, known data points from Cash App and assumptions that separate Cash App and Venmo.
We think that Cash App has been able to create viral growth via its marketing strategy that targets specific pockets of consumers and keeps existing users engaged. This approach seems to be reflected in Google Trends data, which indicates that Cash App is pulling away from Venmo.
More on Cash App's marketing strategy in this Twitter thread:
This doesn't mean that Venmo is on the decline -- As we will demonstrate in the forthcoming whitepaper, we think, while Venmo’s growth is slowing, it remains a healthy peer-to-peer network, thanks to the stickiness of P2P payments networks and the scale it has built.
Check out the full blog post below:
ark-invest.com/research/cash-…
ark-invest.com/research/cash-…
