posted at 23:50
Author: Chris O'Brien
Mon, 24 Nov 2014 07:31:37 +0000
Note to self: Brace for more bubble talk as secret messaging app Yik Yak raises $62 million
Every time some app most of the world has never heard about raises what seems like an insane amount of money, the hand wringing begins and thousands of blog posts are spawned to discuss whether tech is in a bubble. Because Yik Yak, the anonymous-messaging app that has spread like kudzu across college campuses, has raised $62 million, according to a report in the Wall Street Journal. While the story doesn't nail a valuation, it reckons it to be in the "Low hundreds of millions of dollars." Originally, Yik Yak was meant to be a way for college students to learn about what was happening on their college campus. The app, available on iOS and Android, has evolved into a service that let's people post anonymous thoughts and information and see a feed of posts from other people nearby. The app has generated some controversy as some users have apparently used it to post threats or bully other students. Sequoia is hoping that Yik Yak will be the next WhatsApp, the mobile messaging app it backed and that was bought by Facebook for $18 billion dollars. Of course, Sequoia is hoping Yik Yak won't be Color, the photo sharing app it backed with $25 million before it launched in 2011.

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