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Daily Crunch: Bitcoin is a big part of our future, says Twitter CEO Jack Dorsey

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Hello and welcome to Daily Crunch for July 23, 2021. Its been an interesting week for the crypto faithful. One eye-catching piece of news came from Twitter and Square CEO Jack Dorsey, who said that bitcoin will be a big part of the companys future. In his view its the internets native currency. Kinda? I would have picked a more modern chain, but thats just me. Alex

The TechCrunch Top 3





Indian IPOs are a go: After much selling and waiting, the Zomato IPO took flight in India to great effect. Shares of the food delivery unicorn went up sharply, marking a successful flotation for the growth-oriented unicorn. For other richly valued Indian unicorns, its just about the best news that you could imagine. More, please.




Snap is very much not dead:Lost amidst all the Facebook and TikTok brouhaha is the fact that Snap is still growing its user base (some) and revenue scale (more). The company still consumes cash and has huge share-based compensation costs, but it reported the sort of growth that delights investors. So, up went its shares.




China cracks down on edtech: The changing climate for startups and tech giants in China took a new twist this week when news broke that the Chinese Communist Party may force tutoring companies in the country to go nonprofit. That hit a number of stocks, and, we presume, was a pretty bad day for the countrys larger edtech venture and startup ecosystem.



Startups/VC





Paystand is building Venmo for businesses:Want to send a bloc of cash as a company? The process can suck. Happily Paystand just raised $50 million for its work on the matter. TechCrunchs Christine Hall told Daily Crunch that she picked up the round because the company is not only taking on the business-to-business payment space, but is also utilizing blockchain technology as its engine.




Former Minter wants to be king:Thats our first read of the startup Monarch, founded by Val Agostino, who was the first PM at Mint.com. What does Monarch do? Helps folks manage their financial futures. Sure, other companies do that, but most of them are garbage. Have you used the Fidelity website lately?




Lucid Motors discovers the weaknesses of democracy: The EV company had to extend its voting deadline to approve its SPAC deal after not enough folks voted. Per TechCrunch, the hiccup occurred on Thursday, when shareholders voted to approve all but one of the proposals as part of the merger. That particular item required more votes. Regardless, it now has the votes and will go public.




And if you wanted to know whats up with the Duolingo IPO, the Equity team has you covered.



Susan Su on how to approach growth as your startup raises each round


If you are methodical in your approach to building a larger customer base, it is not difficult to foster steady growth.
Marketers who shift with whichever way the wind is blowing or blindly follow someone elses 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 at TechCrunch Early Stage: Marketing and Fundraising.
It is building a product that solves a real and especially persistent problem for people.
In a conversation with Managing Editor Eric Eldon, Su delved into several issues, including tips for how founders should discuss growth with their investors and her methods for developing a sample qualitative growth model.
I firmly believe that every founder should try their hand at growth, said Su.

Susan Su on how to approach growth as your startup raises each round
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