In its early days, PayPal offered its customers a credit of $20 every time a friend of their’s opened a Paypal account. Friends too received a $20 credit. According to Elon Musk, PayPalspent about US$60 million on its referral incentives. A collosal waste of money?
Not really, it seems.
Within six months, PayPal had 5 million customers. By 2015, the company had over 100 million customers and a … read on