Again? Yik Yak Raises $62M in Third Round of 2014

Again? Yik Yak Raises $62M in Third Round of 2014

YIK YAK: They say the third time's a charm. Yik Yak, the company behind an anonymous messaging app popular on college campuses, has raised $62 million in a round led by Sequoia Capital. The Atlanta, GA-based startup has now raised $73.5 million this year after two earlier rounds, and is rumored to be valued in the "low hundreds of millions."

Yik Yak allows users to post anonymous messages that can only be seen by others within a 1.5 mile radius. The app is being used on around 1,500 different schools, but it's developed a reputation for controversy: cyberbullying and threats on Yik Yak recently shut down two high schools in one week. The Guardian has more details on how the app works--and why it's so popular.

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