Wegmans is discontinuing its mobile app for in-store scanning, citing high losses

In his latest TC+ post, growth expert Jonathan Martinez examines the grim realities of user acquisition. The simple fact is that few people who are motivated enough to go through the entire registration process create any value.

“Approximately 95.87% of iOS users give up after day 30,” Martinez wrote. “As a startup founder, how do you prevent churn after you’ve spent significant resources getting people to the top of the funnel?”

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For starters, product teams should identify optimal activation metrics that target the right users — those who find benefit and pleasure in your offerings.

“This could be minutes used on the platform, number of messages a user sends, how many people a user follows, how many times a user customizes their avatar, or anything that signals how users find value in your product. “

Investors I’ve spoken to recently are still open to good ideas, but when they come from founders who are already working on product-market fit, it boosts their confidence.

Small improvements you make by tweaking your onboarding processes or fine-tuning your lifecycle emails can help you close your next round.

Thanks so much for reading,

Walter Thompson
Editorial Manager, TechCrunch+

3 Investors Explain Why Payroll Access Startups Are Set To Cash More Checks

hand holding money bag

Image Credits: Liya Galimzianova (opens in a new window) / Getty Images

Workers in low-wage jobs often experience cash flow problems.

With so many people unable to access credit or savings, increasing numbers who once depended on predatory lenders can now tap into their paychecks before payday through Earned Wage Access (EWA).

“The potential for this model is huge, but the industry is still very early stage,” reports Karan Bhasin, who interviewed three active EWA investors to learn more about where the industry is headed:

  • Jennifer Ho, Partner, Integra Partners
  • Aris Xenophontos, Partner, Seaya Ventures
  • Aditi Maliwal, Partner, Upfront Ventures

Dear Sophie, Is there a way to continue working in the US after my J-1 visa expires?

a lone figure at the hedge entrance to the maze, which has an American flag in the center

Image Credits: Bryce Durbin/TechCrunch

Dear Sophie,

I am a Fulbright Scholar on a J-1 visa. I was told that after my J-1 is over I have to go back to my country for two years.

Is there any way I can stay in the US? Can I apply for an O-1A or green card even if I have to return to my country?

“I’m looking to stay.”

Getting serious about Series B: 3 documents that help founders control the narrative

Neapolitan ice cream.  Shallow DOF.

Image Credits: Davidf (opens in a new window) / Getty Images

Investors with an entrepreneurial background have a unique insight into the fundraising process, so we have two posts from Gaetano Cruppi, partner at venture capital firm Prime Movers Lab.

Crupi spent the pandemic era backing Series B startups, so he shared an article that explores how a strategic note, pitch, and predictive model work in tandem to guide potential investors through due diligence.

“It’s a great way to control the narrative and make sure that what you want to get across is being received by the other parties.”

Pitch Deck Teardown: Helu.io’s $9.8M Series A Deck

Helping SMEs with their controls, reporting and budgeting might not sound exciting, but Austrian fintech startup Helu.io’s storytelling skills excited investors enough to help it raise a $9.8 million Series A in July .

Except for some details about unit economics and revenue, Helu shared with us all of its winning test. As these slides suggest, its founders took a straightforward approach:

  • Problem: “The CFO’s pain is Excel”
  • Solution: “Goodbye Excel Sheets”

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