Yik Yak shuts down after Square paid $1 million for its engineers

Yik Yak co-founders Tyler Droll and Brooks Buffington released a farewell observe to users on Friday, asserting they would shut down their once-popular anonymous social network this 7 days. The app permitted persons to link with other users within a sure radius, and was broadly marketed in and utilised on school campuses.

According to an SEC filing issued on April sixteenth, Square, has agreed to hire several of Yik Yak’s personnel and acquire a non-special license to some of the company’s intellectual home for $one million. That is a deeply disappointing result for a startup that garnered loads of support from venture traders and users.

According to Crunchbase, Yik Yak had lifted $seventy three.4 million in venture funding due to the fact it was launched in 2013, with a valuation approaching $400 million in 2014, its halcyon days.

The app faced issues that had been predictable for any discussion board presenting users anonymity and a means of chatting with 1 yet another. It was plagued by cyberbullies of just about every variety and even banned by some faculties. But all the funds and advice in the planet couldn’t assistance it keep its excitement.

In 2015, Yik Yak had to confess to users that they had been only masked from every other, not police officers or other authorities with a warrant. And then in 2016, security researchers with NYU, led by laptop or computer scientist and professor Keith Ross, found other means to hack users’ individually identifiable information out of Yik Yak. About the very same time, their CTO bailed. 

All the even though, cyberbullies and unsavory content drove down the app working experience for other people. By the end of 2016, consumer downloads had declined 76 p.c versus the very same time period in 2015, as TechCrunch described then, and the company commenced laying off most of its personnel.

In their observe, the co-founders reflected on happier accomplishments by their now-pale startup. Yik Yak is not the 1st anonymous chat app to strike the deadpool. Magic formula also went out of small business in 2015. And the company won’t be leaving a gap in the current market, particularly.

Other chat apps, such as anonymous, semi-anonymous and ephemeral alternatives amongst them, abound. Yik Yak competition however in small business include things like: Whisper, the anonymous chat and sharing app Kik, which only needs usernames Blind, the anonymous place of work chat app in which Uber personnel have not too long ago aired grievances and seven Cups, where persons can go for “active, non-judgemental listeners.”







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