Good morning! Here’s the tech news you need to know midweek.
1. Snapchat parent company Snap flopped with disastrous earnings that sent shares diving. Its users grew just 3% quarter-on-quarter, and its stock dropped 17% in after-hours trading.
2. Salesforce plans to hit $US20 billion (£15 million) in revenues by 2022. That’s more than double its revenue last fiscal year.
3. Uber’s new CEO says he’s ditching a practice that turned employees into “a–holes.” Dara Khosrowshahi has published a new list of corporate values for the company.
4. Google is launching a driverless Uber competitor in Arizona, USA. For the first time, there won’t be a “safety driver” sitting behind the wheel in this pilot scheme.
5. Snapchat is redesigning its app after CEO Evan Spiegel admitted its too difficult to use. It is “difficult to understand” and “hard to use,” he told investors.
6. As much as $US280 million (£213 million) in Ethereum is locked up after someone deleted some code in a popular cryptocurrency wallet. There was a vulnerability in the code for Parity’s “multi-sig” digital wallets.
7. Twitter is turning on longer 280-character tweets for everyone. All users except those tweeting in Chinese, Japanese, and Korean languages will get the new feature.
8. Two twenty-something founders of cryptocurrency startup Centra resigned just weeks after raising $US32 million (£24 million) in an ICO. The company had been promoted by DJ Khaled.
9. Snap wrote down nearly $US40 million (£30 million) because Spectacles are a flop. The wearable cameras never really caught on, and under half of buyers were still using them after a month.
10. Tesla bought automation company Perbix to help it build the factory of the future. The Minnesota-based company has been a Tesla supplier for almost three years.
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