Snap disappoints with its first quarter earnings, Cisco acquires an AI startup and Europe's top regulator could deal Uber a serious blow. All that and more in The Daily Crunch for May 11, 2017.

Also, can you believe that Disrupt NY starts in just a few days?

1. Snap is getting absolutely crushed after falling short of Wall Street's expectations

Snap may have had a successful IPO, but its stock price took a dive yesterday afternoon after the company completely whiffed on its first-quarter earnings. — it brought in less revenue ($149.6 million) and lost more money ($2.31 per share) than Wall Street had predicted.

User growth was soft, too. The company says it now has 166 million daily active users. That's up 5 percent compared to the fourth quarter of last year, but Snap seemed to know this wouldn't be enough to impress investors, since its earnings report instead emphasized the number of snaps created.

2. Cisco acquires conversational AI startup MindMeld for $125 million

Founded in 2011, MindMeld helps businesses build conversational interfaces with cloud-based services. Originally called Expect Labs, the startup launched on the stage of TechCrunch Disrupt SF 2012 with an iPad app that could listen in on your conversations and provide relevant contextual information.

3. Europe's top court leaning towards dealing Uber a big regulatory blow

The court appears to be leaning towards calling a spade a spade by classifying Uber's business as a transportation company. Uber has said that it's just the tech platform that enables the transportation, and therefore not subject to the stricter licensing regulations that can be applied to traditional taxi firms — but that argument may no longer wash in the European Union.

4. Verizon reportedly wins bidding war for Straight Path with $3.1 billion offer

Verizon (which owns TechCrunch) appears to have won its bidding war against AT&T, according to the Wall Street Journal. The telecoms are interested in Straight Path because the Virginia-based company holds valuable spectrum licenses that will play an important role in laying the groundwork for 5G services.

5. Lighthouse tells you what happens in your home when you're not there

Is it a thief, your kids skipping school or paranormal activity? That's the question Lighthouse aims to answer with its new interactive assistant. By combining sophisticated sensors with computer vision technology, the Lighthouse team hopes to deliver an experience that brings more day-to-day value than a mere home security solution.

6. HelloFresh is launching a wine club, taking a page from the Blue Apron playbook

As competition among them heats up, meal kit startups are expanding their repertoire, including by selling their dinner kits at grocery stores and adding new products to their catalogs. In the case of HelloFresh Wine, subscribers will get six bottles of red, white or mixed varietals shipped to their door for $89 per month (plus taxes).

7. Twitter announces a new deal for year-round NFL content that includes live video, but no games

Twitter lost the deal to stream the NFL's Thursday Night Football games this year to Amazon, but today the company is announcing a new multi-year agreement that will bring live football programming to its service. The deal will include a new 30-minute live digital show that will air on Twitter five nights per week, during football season.