Anonymous messaging app Yik Yak is up for sale, according to sources familiar with the situation. Sequoia Capital, the company’s biggest investor, has in recent weeks held deal talks with potential buyers for the Atlanta-based startup.
Yik Yak has the option to sell to a few different acquirers, sources say, but none of the deals will provide a return for the company’s investors. More likely, the company will strike an acqui-hire-style deal for its technology team in exchange for stock in the acquiring company. Yik Yak has raised $73.5 million in venture funding, the biggest chunk of which came from Sequoia in 2014, valuing the company at $400 million. [ Fortune ]