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posted by on Thursday April 27 2017, @03:34PM   Printer-friendly
from the unicorn-cannibalism dept.

According to a Monday report in Bloomberg Businessweek, Square has acquired the "five- to ten-person" engineering team of Yik Yak for $3 million. That leaves just a handful of employees at the Atlanta-based social networking startup. In December 2016, the company already fired 30 of its 50 employees.

Since late last year, Yik Yak has largely gone silent. Its Twitter account hasn't posted since January 4, and its corporate blog has not posted since a month before that. According to Bloomberg, Square has not acquired any other companies since it bought the food delivery startup Caviar in 2014. (Square was founded as a mobile payment company in 2009 by Jack Dorsey, who also founded Twitter.)

Sounds like bad news for Yik Yak, good news for Yik Yak's engineers.


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  • (Score: 4, Insightful) by requerdanos on Thursday April 27 2017, @04:35PM

    by requerdanos (5997) Subscriber Badge on Thursday April 27 2017, @04:35PM (#500770) Journal

    In what world does it make sense for a third party to receive money in order for me to work for a second party?

    In every known world, I imagine.

    If I buy the company you work for, consider this.

    The third party, the previous owners, receive money.

    You would then work for me, the second party, since I would then own the company.

    This is just, right, and proper.

    I don't see your grounds for grievance or protest here. Quit, if you don't like it.

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