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Blue Apron just received its first Wall Street analyst rating: $2 a share (APRN)

Blue Apron just received its first Wall Street analyst rating, and it's not pretty. 

Chuck Cerankosky of Northcoast Research gave the company a price target of $2, according to Bloomberg. That's a measly 11.8% of the $15-17 per share Blue Apron was hoping for in its IPO. It's also far below the actual $10 opening price.

Cerankosky rates the value of the company at just above the value of the company's pro forma assets, according to Bloomberg. He wrote that sales growth at Blue Apron is dependent on discounts and isn't sustainable. High labor and shipping costs are also downsides to the company's business model, according to Cerankosky.

After Cerankosky released his rating, the price of Blue Apron plummeted. Shares are down 6.39% in early trading Tuesday at $7.68.


Tesla is banking on 350 vans to help tackle one of its biggest problems before its Model 3 hits the road (TSLA)

Tesla has struggled to deliver timely repairs as it's scaled production — but the company plans to address the issue with the release of hundreds of repair vans.

Tesla said Tuesday it will roll out 350 additional service vans to offer convenient repairs at a customer's work or home, or on the side of the road. The electric carmaker said it will also add 100 new service centers and 1,400 new service technicians.

According to the Associated Press, Tesla currently only has about 30 mobile repair vans.


Cryptocurrency Ethereum is crashing
Posted July 11, 2017 0:6 AM
Cryptocurrency Ethereum is crashing

LONDON — Ethereum's price crash has extended to a second day, with the cryptocurrency down more than 15% in early trade on Tuesday.

Ethereum and bitcoin have both rallied strongly since the start of the year, with Ethereum rising over 5,000% from around $8 in January to a high of over $400 on June 13. The cryptocurrency has been boosted by the rise in popularity of so-called "Initial Coin Offerings" — a money-raising method that uses Ethereum's network.

However, Ethereum fell around 10% on Monday amid talk of a potential price bubble. It is down just over 15% against the dollar to $ at 8.47 a.m. BST (3.47 a.m. ET):

Mati Greenspan, a market analyst with trading platform eToro, told Business Insider over the phone on Tuesday morning that the crash has been "a long time coming."


12 of the coolest gadgets, apps, and tech products not available in Europe

Europe's has a burgeoning tech scene, but when it comes to the coolest new apps and products, the continent often gets left behind.

Sometimes it's because the continent is lower priority; other times it's because of stricter regulations.

But whatever the reason, Europeans often end up missing out on the latest and greatest American tech, from Snapchat's Snapcash to the Amazon Echo Show.

Here are 14 of the most exciting products that Europeans can't get their hands on in 2017.

1. Amazon Echo Show

The Echo Show is the latest version of Amazon's artificial intelligence-powered smart speaker. Coming with a screen for the first time, you can use your voice to play music from a variety of sources, read audiobooks and the news, provide traffic, weather, and sports updates, control internet-connected appliances and more. But not if you live in Europe.


The 'supercycle' that's supposed to power iPhone 8 sales could just be a 'cycle' (AAPL)

The explosion in iPhone-replacement demand many Wall Street analysts are predicting for the iPhone 8 won't happen, according to analysts at Deutsche Bank. They believe that Wall Street's expectations for Apple are far too high and they struggle to see where the predicted iPhone 8 sales will come from.

Behind this so-called "supercycle" is "a powder keg of a dramatically aging installed base," analysts at Cowen said last October. And in January Bernstein estimated that the installed base entering the iPhone 8 cycle will be 80% larger than it was entering the strong iPhone 6 cycle.


Uber and Deliveroo might have to radically alter the way they pay workers following a government report

Uber and Deliveroo may have to radically change the way they do business in the UK, after a government-commissioned report demanded they guarantee the minimum wage at certain times.  

The Taylor review was commissioned by Prime Minister Theresa May last year partly to examine how "gig economy" firms like Deliveroo and Uber treat their workers. It also looks at other employment issues like zero-hour contracts.

The term gig economy loosely refers to the rising number of firms that rely on more casual than full-time workers, who often take work via smartphone apps.

The report is out on Tuesday, but key details such as the "piece rate" minimum wage recommendation have leaked to the press.


The UK's first digital mortgage robo-advisor got a boost from GoCompare

LONDON –GoCompare, the comparison website, has invested in MortgageGym, a mortgage robo-advisor, to create a mortgage comparison site.

Robo-advisors are programmed to work with minimal human intervention and provide the best solutions based on algorithms.

The service allows UK home-buyers to complete their entire mortgage application online in just 15 minutes. MortgageGym is free to use, and finds appropriate options within 60 seconds. It also offers both automated advice and live advisors.

"GoCompare has brough transparency for customers when researching other financial services products. Consumers deserve that same transparency, ease and clarity in assessing mortgages," said CEO of MortgageGym John Ingram. "MortgageGym does just that in real time, by matching consumers with lenders and products that they can afford," he said.


An entrepreneur asked to look at unfairness in the gig economy was an investor in Deliveroo

An entrepreneur tasked with examining unfair employment practices in the gig economy was an early investor in one of its most criticised companies, Deliveroo.

Greg Marsh, cofounder of hospital startup Onefinestay, was part of the Taylor review into current employment practices.

It's a wide-ranging report, but most people have focused on its potential impact on the gig economy, which includes firms like Uber and Deliveroo. The term gig economy loosely covers firms which rely heavily on casual workers, who usually take work through an app.

Marsh said he had "one small shareholding" in Deliveroo as an early investor. He told Business Insider that the Taylor review scope was "very broad" and that its recommendations would impact a large number of firms.


10 things in tech you need to know today
Posted July 11, 2017 0:36 AM
10 things in tech you need to know today

Good morning! Here is the tech news you need to know this Tuesday.

1. Google has ramped up its legal firepower as it prepares to do battle with EU antitrust regulators. Google is drawing on the expertise of at least five top law firms in Brussels to help it deal with its EU regulatory troubles, people familiar with the matter told Reuters.

2. Facebook is once again cutting the price of its high-end Oculus Rift virtual reality headset. The price cut comes amidst heated competition from HTC, Sony, and others.

3.


WeWork, the company that simulates startup life, is worth more than Twitter, Box, and Blue Apron combined

WeWork, a company that rents out shared office spaces, has raised $760 million in a new Series G round of funding, according to Forbes.

At a $20 billion valuation, the co-working giant tops the market caps of Twitter ($12.96 billion), Box ($2.44 billion), and Blue Apron ($1.54 billion) combined.

The company has not confirmed the investment or its source, but