Minimal social application Yo financing $ 1.5 million

SAN FRANCISCO, July 19 morning news, the United States minimal social applications Yo has completed a $ 1.5 million seed round of financing, the valuation reached 10 million US dollars. The company's investors include Betaworks, Peter Kaushimo, technology blog Mashable, and several founders of Tencent.

Yo had previously confirmed that it has raised $ 1.2 million. However, the company did not release a list of investors until Friday. It is known to outsiders that Moshe Hogeg, co-founder of Yo and CEO of Mobli, had previously invested in this project.

Yo CEO O Arbel said he has been financing negotiations with Betaworks since May, but until now it has been announced financing. In the end, Yo attracted another $ 300,000 investment, making this round of financing reached 1.5 million US dollars. Technology blog TechCrunch quoted sources as saying that this round of financing Yo's valuation of 10 million US dollars.

Abel said Yo will use the round of financing to expand operations in San Francisco and move the headquarters office out of the Airbnb short-haul office.

Yo has started recruiting engineers and business development teams to help the company strengthen its brand partnerships. So far, Yo's application has attracted over 2 million downloads and installations, and over 2,000 developers are currently using their application programming interfaces (APIs) for development.

In a formal announcement, Abel said: "This round of financing is far more valuable than the money we've got, bringing smart, talented and experienced people to the Yo team at this stage will give us a huge advantage to help us accelerate growth , And to provide users with more and better value. "(Li Li)