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Hello and welcome to Daily Crunch for July 23, 2021. It has been an interesting week for crypto devotees. Eye-catching news came from Twitter and Square CEO Jack Dorsey, who said bitcoin would be a “big part” of the company’s future. In his opinion, it is the “native currency” of the Internet. Sort of? I would have chosen a more modern chain, but that’s just me. – Alexis
The Top 3 TechCrunch
- Indian IPOs are launched: After a lot of sales and waiting, Zomato’s IPO has taken off in India with great success. Shares of the Food Delivery Unicorn rose sharply, marking a successful introduction for the Growth-Driven Unicorn. For other highly regarded Indian unicorns, this is just about the best news you can imagine. More please.
- Snap is really not dead: Lost in the midst of all the hubbub of Facebook and TikTok is the fact that Snap continues to grow its user base (some) and its revenue scale (more). The company still consumes money and has huge stock-based compensation costs, but it has seen the kind of growth that investors like. So his actions increased.
- China is cracking down on edtech: The changing climate for startups and tech giants in China took a new turn this week when news broke that the Chinese Communist Party may force the country’s tutoring companies to become nonprofits. It hit a number of stocks and, we suspect, was a pretty bad day for the nation’s largest edtech company and startup ecosystem.
Startups / VC
- Paystand builds Venmo for businesses: Want to send a block of money as a business? The process can suck. Fortunately, Paystand has just raised $ 50 million for its work on the subject. TechCrunch Christine Room told Daily Crunch it took over the round because the company “isn’t just assuming the business-to-business payment space, but is also using blockchain technology as its engine.”
- The Former Minter Wants To Be King: This is our first read of the startup Monarch, founded by Val Agostino, which was Mint.com’s first PM. What does the monarch do? Help people manage their financial future. Sure, other companies do, but most of them are 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 PSPC deal after an insufficient number of people voted. According to TechCrunch, the “hiccup occurred on Thursday when shareholders voted to approve all but one of the proposals in the merger.” This particular point required more votes. Either way, it now has the votes and will be made public.
- And if you wanted to know what’s new with the Duolingo IPO, the Equity team is there for you.
Susan Su on how to approach growth as your startup grows at every turn
If you are methodical in your approach to building a larger customer base, it is not difficult to foster steady growth.
Marketers who change direction, regardless of the direction of the wind, or who 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 good retention is really simple,” Susan Su, growth expert, recently told TechCrunch Early Stage: Marketing and Fundraising.
“It’s building a product that solves a real and most importantly persistent problem for people.”
In a conversation with Editor-in-Chief Eric Eldon, Su looked at several issues, including tips on how founders should discuss growth with their investors and her methods for developing a sample business model. qualitative growth.
“I firmly believe that every founder should have a go at growth,” said Su.
(Extra Crunch is our membership program, which helps founders and startup teams grow. You can sign up here.)
Big Tech Inc.
- GM recalls the Bolt. Still: If you own a Bolt from 2017 to 2019, it can catch fire. You will therefore want to participate in the recall in progress. The first to occur since November 2020, we hasten to add. Still, the news highlights that EV technology is coming of age, even though some earlier attempts at such vehicles are on the wrestling bus.
- Taboola does her shopping: Fresh out of its PSPC suit, Taboola has announced that it is purchasing “Connexity, a marketing technology company that operates an advertising network focused on retail and e-commerce” for $ 800 million. You can do this more easily if you are public. Buying things is. The shares of the online effluent supplier have risen sharply in today’s trading.
- People who still use Tumblr aren’t thrilled 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 towards the booming designer economy and help people earn a few bucks? Well the users are pissed off. It’s a somewhat standard internet mess, but that doesn’t make it any less confusing.
TechCrunch Experts: Growth Marketing
We reach out to startup founders to tell us who they turn to for the most up-to-date growth marketing practices. Complete the survey here.
Read one of the testimonials we received below!
Trader: Jonathan metrick, Portage Ventures
Recommended by: Matt Byrd
Testimony: “Jonathan has been truly transformative at Policygenius. Prior to his arrival, we were leading a smart but inconsistent marketing effort. Our message was inconsistent and our approach to understanding channel effectiveness was weaker than it could have been. Jonathan brought a spirit of growth to the team and built a super efficient organization in a short period of time.