Interesting things to note:
- The respective ecosystems are the key. Cash App + Sellers
- BTC clean energy initiative; reinvest gains in funds
- Carbon Free from 230
- $170M purchase in BTC. Believe BTC has highest probability of being internet currency (bought 50M). Could be the future of internet currency
Sellers;
- Focus and expansion on sales to improve mid-market/large cohort based on ML learnings.
- Growth in the omni-channel
- Strong cohort growth. 5 quarter payback, 3X return YoY.
Cash App;
- 8% growth from 2020 versus 2019 from sellers growth
- Growing engagement and monetization in Cash App. 162% YoY.
- 36M transaction customers 50% YoY
- Cash Apps boost experiments. Huge upside for personalization and local activation based on locations. Upside for combination for seller/cash app ecosystem. Could these reward boosts be used for future advertising on the advertiser side? Could boost be the precursor to merge the entire Square ecosystem?
Final Thoughts:
Sellers
- Businesses that have been started in COVID and have been able to maximize operations are likely going to grow with SQ and extend LTV.
- SQ currently only has 1% penetration in mid/large size markets. Big upside
Cash App
- More expansion of frictionless experience for increased daily utility
- Focus is on the customer experience. Still lots to improve