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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.
(Score: 2) by ikanreed on Thursday April 27 2017, @05:12PM (2 children)
Meanwhile, I'm beginning to fall into the trap of taking my half-joke seriously and trying to defend it.
(Score: 2) by Nerdfest on Thursday April 27 2017, @05:27PM (1 child)
It's always a danger. We need annotations for humour and sarcasm.
(Score: 3, Informative) by ikanreed on Thursday April 27 2017, @05:42PM
Well, the problem is more the half part than the joke part. I really do resent the idea of being bought and sold as some fungible commodity for rich assholes. But I also am not a complete moron and recognize how radically different it is from real chattel slavery.