Yik Yak, the US-based developer of an anonymous noticeboard app that counts social network Renren as an investor, is set to close a $75m series B round, TechCrunch reported yesterday.
Founded in October last year, Yik Yak operates as an online feed where users can post their thoughts. Like Facebook, it has initially focused on schools and colleges, but the company’s founders aim to eventually expand the service into a ‘hyper-local news source’.
Yik Yak closed its $10m series A round as recently as July, which boosted its overall funding to $11.5m. Its backers also include DCM, which led the series B, Azure Capital Partners, Vaizra Investments, Atlanta Ventures and Tim Draper.
The investors in the latest round remain undisclosed, though a source told TechCrunch they may include strategic investors.
The round was originally going to be set at about $25m, only to balloon on the back of a surge in popularity that has led to it becoming one of the top 10 most popular social networking apps in the US, according to app analytics site App Annie.