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All entrepreneurs dream of building a product that can improve the world in some way. Few take on the challenge of disrupting an industry rife with regulations and unreceptive to change. But that’s exactly what the founders of Wealthfront set out to do. Fast-forward to today: Wealthfront manages over $4.6 billion dollars from nearly 100,000 users. They have raised $129 million in capital and forged a new class of “robo-advisors,” attracting much industry buzz and concern from major financial institutions. Here's a look at some of the growth tactics they used.

  • SE

    Sean Ellis

    over 4 years ago #

    This is a good article based on an interview with the Wealthfront VP Growth and Product Andy Johns @uclacademix . At one point in the article the author mentions that the Dropbox referral program was inspired by Paypal. Interestingly we never talked about Paypal when we conceptualized it. It was based on an experiment that my friend Jamie Siminoff did when he was CEO at PhoneTag. He tested several referral incentives and found that a double sided referral program worked the best. After PhoneTag, Jamie went on to become the founder and CEO of Ring.com, which just announced a $109M fund raise this week (bringing total to $209M). He's also going to be a speaker at the www.GrowthHackersConference.com .

  • DH

    Dani Hart

    over 4 years ago #

    Really cool to see an example of a product that has such limited control over onboarding and timing of the aha moment yet still experiments regularly to grow.

  • AA

    Anuj Adhiya

    over 4 years ago #

    As a follow on from this post check out our AMA with Wealthfront's VP of Growth, Andy Johns: https://growthhackers.com/amas/ama-im-andy-johns-ex-growth-at-facebook-twitter-quora-ex-eir-greylock-current-director-of-growth-and-revenue-at-wealthfront/ <- tons of gold here!

  • DS

    Danavir Sarria

    over 4 years ago #

    Great post!

  • JC

    Jiarun Chen

    over 4 years ago #

    I was first introduced to wealth front through Tim Ferriss's Podcast and wealthfront's growth has intrigued me since. Here is what I took from the article. Hope it helps:
    1. Building a great product isn't enough. Ensuring scalability and disruptability is key.
    2. Iterate constantly on ensuring that key metrics grow.
    3. Phenomenal User Experience as a lead driving force for Freemium consumer referrals.

    Would love to know what you guys caught. Thanks!