Square has reportedly paid $3m for the engineering team of microblogging platform Yik Yak, likely signalling the Renren-backed company is nearing the end of the line.
Payment processing platform Square has acquired the engineering team of social media platform Yik Yak for less than $3m, Bloomberg reported yesterday, citing a person familiar with the matter.
The company had raised $73.5m from investors including social media company Renren and was reportedly valued at up to $400m in a $62m series B round in 2014 led by venture capital firm Sequoia Capital.
Although the deal does not constitute an exit for Yik Yak’s investors, it does suggest the…
