Yik Yak will soon be shutting down its anonymous chat app as the school year draws to a close, the company announced on Friday.
Founded in 2013, Yik Yak at first grew rapidly as students utilised the anonymous features in schools and university campuses. Yik Yak used to be valued at $400 million after raising more than $73 million in venture capital. One user remarked that, “maybe if you hadn’t caved into forcing profiles on us and thought of any kind of creative solution, many users would still be here.
“That was what killed it really.”
Whilst another stated “such a shame, for this app provided support for a lot of distressed people.”
However, the company faced frequent issues surrounding harassment and bullying as users abused others anonymously with very few repercussions. A separate user expressed content that the app was coming to a close, “I’m really glad all the degeneracy won’t get an outlet anymore.”
In a blog addressed to their users, co-founders Tyler Droll and Brooks Buffington said “we were so lucky to have the most passionate users on the planet.
“It’s you who made this journey possible.”
They continued, “the time has come, however, for our paths to part ways, as we’ve decided to make our next moves as a company.” Yik Yak laid of 60 per cent of its staff at the end of 2016. Many of Yik Yak’s staff are set to join the technology company, Square.
It has been revealed that Square only spent $1 million for employment agreements and to license certain intellectual property from the company despite the Yik Yak’s previous valuation of $400 million. So far, no official date has been set for when the app will cease to function.