According to published reports, Sequoia Capital has led a $62 million investment in Yik Yak. The funding round values Yik Yak at between $300 million and $400 million, according to people familiar with the matter.

Yik Yak, Inc. is the first app that enables hyper-local communication on iOS and Android devices while retaining users' privacy. Meet friends, start a cause, share jokes, or deliver news to anyone within a common area. The fast-growing app is popular among college campuses and in areas where events worth sharing are occurring. The app enables any mobile user to deliver relevant, timely content to hyper-local areas of people, whether it is a funny sighting or emergency news.