The company laid off 60% of its workforce and was eventually forced to shut down. It was never a self-sustaining business, and when their popularity started decreasing rapidly there was no reason for their investors to continue to fund the project. In 2016 Yik Yak shrunk 75% compared to 2015. The technical reason Yik Yak shut down is quite straightforward. вЂЌ Why did Yik Yak Fail and Shut Down? Yik YakвЂ™s Fall in Popularity On the 28th of April 2017, the company announced that it would be closing down in the coming week. Yet, two years later Yik Yak was no more. At its peak, the business was valued between $350 and $400 million. Once the app grew in popularity after its release, they were able to raise additional rounds of $10 million by the same investors and eventually $60 million by Sequoia Capital. The company they founded was initially funded by Atlanta Ventures and secured $1.5 million by other various investors. The app was created by Tyler Droll and Brooks Buffington who were college students at the time. It became the 9th most downloaded social media app in the United States shortly after its launch in 2013 and reached 1.8 million downloads in September 2014. Yik Yak enjoyed a lot of popularity especially in schools and college campuses throughout the US in 20. Each user had Yakarma, which quantified the success of their posts, not unlike RedditвЂ™s karma system. Users could react to the posts by voting (up or down) or responding. People were able to make posts (Yaks), which were visible to other users in a 5-mile radius. Yik Yak was a proximity-based, anonymous social media app.

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