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That's literally what PayPal did. They gave users $20 if you created an account. Over time, they lowered it to $10 and then $5. The program cost them ~$70m, but
by thesausageking 7y ago
That's literally what PayPal did. They gave users $20 if you created an account. Over time, they lowered it to $10 and then $5. The program cost them ~$70m, but let them grow at 7-10% / day. They went from 800k accounts in March of 2000 to 4m in September, and then 11m in September of 2001.
- gonesilent 7y agoAlso jet.com subsidizing sales.
- pg_is_a_butt 7y agoI paid for a semester of college at least thanks to that paypal program... I think it started out at $75 referral... then $50 to you and $50 to them, then 50/25, 25/25, 10/25, etc. Within a month everyone on campus had an account.
- jaredsohn 7y ago>but let them grow at 7-10% / day. not seeing that math
- beaverden 7y agoReminds me of the Monese rush my colleagues have. I heard they're giving referral money to both the inviting and the invited. So far, I've seen only the person who actively invites people to actually use it, because no one else actually needs it in the heavy presence of Revolut in our market. Basically, if you give away money, make sure people are actually using the product