Good morning! Here’s the tech news you need to know going into the weekend.
1. Elon Musk unveiled Tesla’s latest product: Tesla Energy. It’s a suite of batteries for homes and businesses.
2. Yelp shares tanked over 23% in trading yesterday. It reported a big miss on first quarter earnings, as well as a disappointing outlook.
3. LinkedIn shares were down over 20% on weak guidance. But it beat revenue expectations.
4. Wearables company Jawbone has raised $US300 million in funding from investment firm BlackRock. That brings its valuation to around $US3 billion.
5. Analysts are confident that Tinder is going to start bringing in big money soon. JMP Securities believes that monetisation of Tinder could add 5% to IAC’s 2016 revenue.
6. Streaming music site Grooveshark has shut down. It was one of the first streaming sites, and often hosted content illegally. Now, it has shut down as part of a settlement with rightsholders.
7. A teardown of the Apple Watch reveals that its parts likely cost $US84 to manufacture. The hardware cost is estimated to be around 24% of the final retail price.
8. A leaked presentation from ridesharing company Lyft shows that it spends over 60% of its revenue on marketing. But it has been paying off — ridership grew 4x in 2014.
9. YouTube star Grace Helbig made the move to TV — but her ratings are falling. The third episode of her E! talk show only brought in 182,000 viewers.
10. London fashion startup Lyst raised $US40 million in funding. It aggregates fashion products from around the web.
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