Yik Yak has raised $10 million in venture funding.
What is Yik Yak?
- “Yik Yak acts like a local bulletin board for your area by showing the most recent posts from other users around you. It allows anyone to connect and share information with others without having to know them.”
- Anonymous messaging app. Competitors include Rumr, Whisper & Secret
- Competitive advantage: Yik Yak does not ask for users personal information when they sign up. Yik Yakers view/reply to comments posted within a 1.5-mile radius.
- The app is aimed at college kids and is currently on 250 campuses.
- The high level of anonymity the app offers has resulted in concerns about bullying.
- Co-founders Tyler Droll and Brooks Buffington.
- Here’s a great q & a on them.
The Deal:
- DCM led the Series A round, joined by Azure Capital Partners, Renren Lianhe Holdings, and Tim Draper.
- The funding will be used for hiring, improving the app apps, marketing efforts to get more users, and an international expansion.
- Previously the company raised $1.5 million from Azure Capital Partners, DCM, Vaizra Investments, and seed funding from Atlanta Ventures.
Read More:
[Photo Credit: Screen shot of Yik Yak homepage]
