Sequoia Leads $61m Funding Round for Yik Yak

By Tim Maytom

yik yak on tour

Anonymous messaging app Yik Yak has closed a round of Series B funding, having raised $61m (£38.9m), with investment led by notable venture capitalist firm Sequoia Capital.

The app, which is popular among US high school and college students, raised $1.5m in April, followed by a $10m Series A funding round in June. The latest round of funding places the company’s value at somewhere between $300m and $400m, and sees Sequoia’s Jim Goetz join the board of the Atlanta-based start-up.

The app has focused on covering US college campuses, with around 1,300 currently using the app as a hyper-local news and gossip source. The firm recently promoted the app with a bus tour of west coast colleges, aiming to encourage more young users to sign up.

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Source:: Mobile App News

      

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