Square has acquired a portion of the employees involved with Yik Yak, a once popular anonymous chat app. As some of Yik Yak's engineers join their new employer, the app is shutting down. The service had been live for four years.
A blog post on the matter didn't delve into the reasons behind the app's shutdown. Though it did say a "few members" would be working for Square from here on out.
The team behind the app raised $73.5 million in venture capital funding, but Yik Yak's engineers and some IP were acquired by Square for just $1 million.
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