Square buys Yik Yak engineering team at steep discount
April 25, 2017
Platform Software | Atlanta, GA | Corporate Acquisition
Payment company Square (NYSE: SQ) has acquired the engineering team of Yik Yak for less than $3 million, according to a Bloomberg report. Rumors of the deal have been in the air for several weeks, ever since reports emerged in early April that Sequoia had put the struggling anonymous messaging app up for sale. The $3 million price is a major drop from the $400 million valuation Yik Yak reached in 2014 with a $62 million round.