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Phoenix666 writes:

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.

Original Submission

1. "Phoenix666" - https://soylentnews.org/~Phoenix666/
2. "Bloomberg Businessweek" - https://www.bloomberg.com/news/articles/2017-04-24/square-said-to-acquire-team-from-struggling-social-app-yik-yak
3. "Square has acquired the "five- to ten-person" engineering team of Yik Yak for $3 million" - https://arstechnica.com/business/2017/04/square-hires-away-yik-yak-engineering-team-leaving-startup-on-life-support/
4. "December 2016" - https://arstechnica.com/business/2016/12/yik-yak-fires-30-of-50-employees-still-has-no-business-model/
5. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=19852

printed from SoylentNews, Square Hires Yik Yak’s Engineers, Leaving Fewer Than 10 Employees Behind on 2024-04-25 16:29:15