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Hello and welcome to the Daily Crunch on July 23, 2021. It has been a interesting week for the crypto faithful. Striking news came from Twitter and Square CEO Jack Dorsey, who said that bitcoin it will be a “big part” of the future of the company. In his opinion, it is the “native currency” of the Internet. A little? I would have chosen a more modern chain, but that’s who I am. – Alex
TechCrunch’s Top 3
- Indian IPOs are a success: After much selling and waiting, the Zomato IPO took off in India to great effect. Shares of the food delivery unicorn rose sharply, marking a successful float for the growth-oriented unicorn. For other great value Indian unicorns, it’s the best news you can imagine. More, please.
- Snap is not dead: Lost amid all the Facebook and TikTok hoopla is the fact that Snap is still growing its user base (some) and its income scale (more). The company still consumes cash and has huge share-based compensation costs, but it reported the kind of growth that delights investors. Then, their shares went up.
- China cracks down on educational technology: The changing climate for startups and tech giants in China took a new turn this week when it emerged that the Chinese Communist Party could force tutoring companies in the country to become non-profit organizations. That affected several stocks and, we assume, it was a pretty bad day for the country’s largest ecosystem of startups and education technology companies.
Startups / VC
- Paystand is building Venmo for business: Do you want to send a block of cash as a business? The process can suck. Happily Paystand just raised $ 50 million for his work on it. TechCrunch’s Christine Hall He told Daily Crunch that he picked up the round because the company “is not only taking over the business-to-business payment space, but it is also using blockchain technology as the engine.”
- Former Minter wants to be king: That’s our first reading of the startup Monarch, founded by Val Agostino, who was the first PM at Mint.com. What does Monarch do? Help people manage their financial future. Sure, other companies do that, but most of it is garbage. Have you used the Fidelity website lately?
- Lucid Motors discovers the weaknesses of the democracy: The electric vehicle company had to extend its voting deadline to approve its deal with SPAC after not enough people voted. According to TechCrunch, the “setback occurred on Thursday, when shareholders voted to approve all but one of the proposals as part of the merger.” That particular article required more votes. Regardless, you now have the votes and it will be made public.
- And if you want to know What about Duolingo’s initial public offering?, the Equity team has you covered.
Susan Su on tackling growth as your startup grows with each round
If you are methodical in your approach to building a larger customer base, it is not difficult to foster consistent growth.
Marketers who change whatever way the wind blows, or blindly follow someone else’s idea of best practices, are less likely to be successful.
“The not-so-secret secret here is that the key to great retention is really simple,” said growth expert Susan Su recently on TechCrunch Early Stage: Marketing and Fundraising.
“It’s about creating a product that solves a real and especially persistent problem for people.”
In a conversation with managing editor Eric Eldon, Su delved into several topics, including advice on how founders should discuss growth with their investors and his methods for developing a sample qualitative growth model.
“I strongly believe that all founders should try to grow,” Su said.
(Extra Crunch is our membership program, helping founders and startup teams get ahead. You can sign up here.)
Big Tech Inc.
- GM remembers the Bolt. Again: If you own a Bolt from the 2017 to 2019 era, it can catch fire. Then you will want to participate in the current retreat. The first to happen since November 2020 we hasten to add. Still, the news underscores that electric vehicle technology is coming of age, even if some previous attempts at such vehicles are riding the fight bus.
- Taboola goes shopping: Fresh out of its SPAC combination, Taboola announced that it will buy “Connexity, a marketing technology company that operates an ad network focused on retail and e-commerce” for $ 800 million. You can do this more easily if you are public. Buy things, that is. Shares of the online effluent provider rose sharply in trading today.
- People who still use Tumblr aren’t happy that Tumblr wants a future: A few days ago, Daily Crunch was generally positive about Tumblr’s decision to introduce paywalls for creators who wanted them. Why not position the venerable company into the burgeoning creative economy and help people earn a few bucks? Well, users are pissed off. It’s a somewhat standard internet mess, but that doesn’t make it any less puzzling.
TechCrunch Experts: Growth Marketing
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Testimonial: “Jonathan was truly transformative at Policygenius. Before his arrival, we were carrying out a smart but disjointed marketing effort. Our message was inconsistent, and our approach to understanding the channel’s effectiveness was weaker than it could have been. Jonathan brought a growth mindset to the team and built a hyper-effective organization in no time. “