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Yik Yak a messaging app which was briefly in vogue on college campuses, have announced that the app will be closed down over
the period of the course of this week. The announcement comes later that Square would acquire the company,s engineering team
for $1 million.

Square yup, the Jack Dorsey-led payments company acquired some of the Yik Yak engineering team for $1 million. Unsurprisingly, Square didn’t want the app which question the acquisition of the company.

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In 2014, after its app experienced a period of huge user growth, a $73.5 million funding round valued the company at $400
million.

But those users were primarily interested in the platform’s promise of anonymity. That could have meant long-term challenges
to serious monetization, and also led to incidents of abuse and bullying.

When the company last year began to push users to adopt persistent handlers, the reaction was broadly negative. By December,
the company had laid off 60 percent of its workers and was attempting to pivot.

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The anonymous, location-based messaging app that rose to popularity in 2014 will “begin winding down” over the next week, Yik Yak co-founders Tyler Droll and Brooks Buffington wrote in a blog post on Friday.

For an app whose core users were always college students, summer felt like the right time to end things, the co-founders
said.

“With the school year drawing to a close for many of you and summer vacation on the horizon, now feels like a good time for
us to say ‘so long for summer’ to y’all, too. To that end, we’ll begin winding down the Yik Yak app over the coming week as
we start tinkering around with what’s ahead for our brand, our technology, and ourselves,” Droll and Buffington wrote.

“We’re grateful to the users who made Yik Yak a place for laughs, camaraderie, stress relief, social comfort, news, memes,
class recommendations, campus spirit, and so much more,” they added. “We’ve loved being part of your college experience over
the past four school years.”

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