Yik Yak Gets More Funding: Sequoia Leads $61M Investment

By | December 3, 2014
yik yak

There has been speculation surrounding Anonymous messaging app Yik Yak raising funds again, and today it was confirmed that the one-year-old app, which is popular among U.S. colleges, has closed a $61 million Series B round. It has been confirmed by Yik Yak representatives that Sequoia Capital led the round, which included participation from previous investors including DCM. The deal sees Sequoia’s Jim Goetz join the Atlanta-based startup’s board.

Yik Yak

Last month it was reported that the company was near to closing $75 million in new capital from investors, and ten days later sources told the Wall Street Journal that the startup had raised $62 million. The Journal reported that the round values the company, which was started by Furman University graduates Tyler Droll and Brooks Buffington, at between $300 million and $400 million.

The filing indicates that Yik Yak closed $60.9 million of $62 million, which means that there is still just over $1 million ($1,086,637 to be precise) available in the round. Yik Yak is focused on serving college campuses as their go-to for news and views. The service currently covers around 1,300 colleges in the U.S., and typical messages from users include thoughts on teachers, other students, college life in general and — of course, the core of campus life — hookups.

It’s been a busy year of fundraising for the young company. Yik Yak raised $1.5 million in April and it quickly followed that up with a $10 million Series A round in June.

Author: Saugaat

Generally, the path of least resistance appeals. Good Samaritan, armchair football fan, especially gifted napper.