Yik Yak Gets $1.5 Million Injection of Funding

The hyperlocal anonymous messaging app announced its biggest round of funding since it launched five months ago.

yik yak

Today, the hyperlocal anonymous messaging app Yik Yak announced a $1.5 million infusion of investment. This is the largest round of funding since the startup was founded in October 2013.

The app, which connects people within a mile-and-a-half radius of each other via anonymous feed, has received criticism because of the low barriers to entry. However, Yik Yak has been proactive in addressing concerns that high school and middle school students might use the app as a cyber-bullying tool.

According to the announcement, students at Southern University used the app to raise money to help fund the cancer treatment for a fellow student. With these new funds, the founders plan to enhance the current features of the app and fuel the growth of the burgeoning startup.

“Our goal with Yik Yak was to create an open forum for mobile users to easily communicate, or Yak with one another, providing a virtual bulletin board of sorts for community engagement within a specific location,” said CEO Tyler Droll in a statement. “This funding will not only give us the opportunity to bring our platform to more locations, but it will also help generate more features and functionalities that connect users and encourage free expression, humorous or cause-related engagement or community-building through the app.”

*image via yikyakapp.com

Publish date: April 22, 2014 https://dev.adweek.com/digital/yik-yak-gets-1-5-million-injection-funding/ © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT