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Hello and welcome to Daily Crunch for July 23rd, 2021. It’s been an interesting week for the crypto believers. Big news came from Twitter and Square CEO Jack Dorsey, who said that Bitcoin will be a “big part” of the company’s future. From his point of view, it is the “home currency” of the Internet. Somehow? I would have picked a more modern chain, but that’s just me. – Alex

The TechCrunch top 3

  • Indian IPOs are hot: After much selling and waiting, Zomato’s initial public offering in India took off to great effect. The unicorn’s grocery delivery stocks rose sharply, marking a successful initial public offering for the growth-oriented unicorn. For other esteemed Indian unicorns, it is simply the best news you can imagine. More please.
  • Snap is far from dead: Amid all of the Facebook and TikTok brouhaha, the fact has been lost that Snap is still growing its user base (some) and revenue (more). The company is still running out of cash and has huge stock-based compensation costs, but it has seen growth that is pleasing to investors. So its stocks went up.
  • China takes tough action against Edtech: The changing climate for startups and tech giants in China took a new turn this week when it became known that the Communist Party of China could force tutoring companies in the country to become nonprofits. That hit a number of stocks and, we suspect, was a pretty bad day for the country’s larger edtech venture and startup ecosystem.

Startups / VC

  • Paystand builds Venmo for companies: As a company, would you like to send a block of money? The process can suck. Fortunately, Paystand just raised $ 50 million for its work on the subject. TechCrunch’s Christine Hall told Daily Crunch that she took the round because the company is “not only taking over the business-to-business payment space, but also using blockchain technology as an engine”.
  • Former Minter wants to become king: This is our first reading about the startup Monarch founded by Val Agostino who was the first PM at What is Monarch doing? Helps people manage their financial future. Sure, other companies do, but most of them are rubbish. Have you used the Fidelity website lately?
  • Lucid Motors discovers the demo’s weaknessescracy: The EV company had to extend its voting deadline to approve its SPAC deal after not enough people voted. TechCrunch said there was a hiccup on Thursday as shareholders approved all but one of the proposals as part of the merger. This particular point required more votes. Regardless, it now has the votes and will go public.
  • And if you wanted to know what’s up with the Duolingo IPO, the Equity team is here for you.

Susan Su explains how you can approach growth if your startup raises every round

If you are methodical to build a larger customer base, it isn’t hard to drive steady growth.

Marketers who move in any direction the wind blows – or blindly follow others’ ideas about best practices – will be less successful.

“The not-so-secret secret here is that the key to great customer loyalty is really simple,” said growth expert Susan Su recently at TechCrunch Early Stage: Marketing and Fundraising.

“It builds a product that solves a real and particularly persistent problem for people.”

In an interview with Managing Editor Eric Eldon, Su discussed a variety of topics, including tips on how founders should discuss growth with their investors, and their methods for developing an exemplary qualitative growth model.

“I firmly believe that every founder should try their hand at growth,” said Su.

(Extra Crunch is our membership program that helps founders and startup teams move forward. You can sign up here.)

Big Tech Inc.

  • GM recalls the bolt. Once again: If you own a 2017-2019 Bolt it can catch fire. So you want to participate in the current callback. The first since November 2020 that we’d like to add quickly. Still, the news underscores that EV technology is maturing, even though some previous attempts at such vehicles drive the battle bus.
  • Taboola goes shopping: Fresh from its SPAC combo, Taboola announced that it is purchasing “Connexity, a marketing technology company that operates a retail and e-commerce-focused advertising network,” for $ 800 million. You can do this more easily if you are public. Buy things, that is. The shares of the online wastewater supplier rose 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 move to roll out paywalls for YouTubers who wanted them. Why not position the venerable company in the direction of the burgeoning creator economy and help people make a few dollars? Well the users are pissed off. It’s a bit of a normal internet mess, but that doesn’t make it any less confusing.

TechCrunch Experts: Growth Marketing

Credit: SEAN GLADWELL (opens in a new window) / Getty Images

We reach out to startup founders to let us know who to turn to for the latest growth marketing practices. Fill out the survey here.

Read one of the testimonials we received below!

Marketer: Jonathan Metrick, Portage Ventures

Recommended by: Matt Byrd

Transcript: “Jonathan was really transformative at Policygenius. Before he arrived, we ran a clever but incoherent marketing drive. Our messages were inconsistent and our approach to understanding channel efficiency was weaker than it could have been. Jonathan brought a growth-oriented mindset to the team and quickly built a hyper-effective organization. “