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Square Said to Acquire Team from Struggling Social App Yik Yak

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Re: Square Said to Acquire Team from Struggling Social App Yik Yak

#11

Post by mehrdada »

hamandcheese wrote: post #7

The phrasing makes it seem like Yik Yak itself is not being acquired. Is that a thing that ever happens? I doubt square is interested in their tech anyways. I've heard that the Atlanta tech scene is dominated by business types rather then techies. It wouldn't surprise me if leadership is selling off most their engineering team and planning to outsource as needed from here on out.

> Is that a thing that ever happens?

Yes. If you acquire a company, you assume all their liabilities as well as the assets. You might want to just buy the assets and have the acquisition owners dissolve it themselves to keep the liabilities at bay.

Re: Square Said to Acquire Team from Struggling Social App Yik Yak

#12

Post by CydeWeys »

hamandcheese wrote: post #7

The phrasing makes it seem like Yik Yak itself is not being acquired. Is that a thing that ever happens? I doubt square is interested in their tech anyways. I've heard that the Atlanta tech scene is dominated by business types rather then techies. It wouldn't surprise me if leadership is selling off most their engineering team and planning to outsource as needed from here on out.

Yeah, and it's so common there's a phrase for it: "acquihire". When a company (or even just its team) is acquired for the engineers themselves, not for any existing code, product, or business.

Re: Square Said to Acquire Team from Struggling Social App Yik Yak

#15

Post by huac »

Svexark wrote: post #13

Yik Yak destroyed itself by ignoring their users and making changes that undermined the reason people used their app in the first place. They're only "struggling" because of a series of self-inflicted wounds.

They faced legal trouble for the anonymity.

Re: Square Said to Acquire Team from Struggling Social App Yik Yak

#16

Post by alistproducer2 »

hamandcheese wrote: post #7

The phrasing makes it seem like Yik Yak itself is not being acquired. Is that a thing that ever happens? I doubt square is interested in their tech anyways. I've heard that the Atlanta tech scene is dominated by business types rather then techies. It wouldn't surprise me if leadership is selling off most their engineering team and planning to outsource as needed from here on out.

>I've heard that the Atlanta tech scene is dominated by business types...

In ATL, can confirm. That's not to say there aren't good engineers here.

Re: Square Said to Acquire Team from Struggling Social App Yik Yak

#17

Post by PM_NAKED_PIKS »

huac wrote: post #15
Svexark wrote: post #13

Yik Yak destroyed itself by ignoring their users and making changes that undermined the reason people used their app in the first place. They're only "struggling" because of a series of self-inflicted wounds.

They faced legal trouble for the anonymity.

Actual legal cases? Or just online petitions mumble jumble?

Re: Square Said to Acquire Team from Struggling Social App Yik Yak

#18

Post by pjc50 »

hamandcheese wrote: post #8

> The payments processor paid less than $3 million for between five and ten of Yik Yak’s engineers I feel like they could have saved money and created happy engineers by offering each employee a hefty sign on bonus.

It would be interesting if there were a transfer market in programmers like there is in footballers, but I don't see it happening any time soon.

(Partly this is because the rules of the game prevent replacing Lionel Messi with 1,000 cheap non-Western consultants hired through three layers of outsourcing)

Re: Square Said to Acquire Team from Struggling Social App Yik Yak

#19

Post by harryh »

gonzo wrote: post #5
EduardoBautista wrote: post #3

Earlier quoted context omitted.

Are they required to work there, what's stopping them from finding a new job?

Golden handcuffs.

That's not really the case here. Golden handcuffs refers to stock that was previously granted but either has not yet vested or has vested but the employee can't keep if they walk away from the job. While the employees in question surely own Yik-yak stock that stock is now worthless.

They're starting at Square just like they would start at any other job. Thus they will stay at Square if it is a better job for them (for whatever reason) than they could otherwise get.

Re: Square Said to Acquire Team from Struggling Social App Yik Yak

#20

Post by sdflkd »

alistproducer2 wrote: post #16
hamandcheese wrote: post #7

The phrasing makes it seem like Yik Yak itself is not being acquired. Is that a thing that ever happens? I doubt square is interested in their tech anyways. I've heard that the Atlanta tech scene is dominated by business types rather then techies. It wouldn't surprise me if leadership is selling off most their engineering team and planning to outsource as needed from here on out.

>I've heard that the Atlanta tech scene is dominated by business types... In ATL, can confirm. That's not to say there aren't good engineers here.

Can you speak more on the ATL tech scene? I've always been interested.
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