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Single-message app 'Yo' is what's up with investors

Published on Jul 19, 2014 6:29 AM
Yo, the messaging app from Apple's App Store. -- PHOTO: YO

SAN FRANCISCO (AFP) - A messaging app that allows users to send the word “Yo” to friends has discovered newfound fame and fortune.

San Francisco-based startup Yo, which got its start in Tel Aviv and moved to California after becoming a hit in Israel, boasted new backers on Friday as reports estimated its value as high as US$10 million (S$12.4 million).

Yo raised US$1.5 million in an initial round of funding that included backing from Betaworks and Mashable founder Pete Cashmore, according to co-founder and chief executive Or Arbel.

“The value of this round goes far beyond the dollar amount that we received,” Mr Arbel said in a release.

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