U.S. Markets open in 4 hrs 21 mins

Wow, Yo! raises $1M bucks

Hot Stock Minute

A new two letter mobile app, simply called  “Yo" has raised a million bucks. I am not kidding. The messaging app which was released on April Fool’s Day is apparently no joke.  

The company’s co-founder and CEO Or Arbel managed to secure $1.2 million in funding from investors. The app took Mr. Arbel only eight hours to build and he quit his job in Israel an moved to San Francisco to work on Yo full-time.

This is really a sign of the times said Yahoo Finance Senior Columnist Michael Santoli. However, even though it has really gotten people talking he doesn’t expect the buzz to last.

The concept is so mindless it really boggles your mind.  All it does is allow users to send  the word “Yo” to their buddies to communicate via smartphone. The app is currently available to download  through the Apple and Google Play stores and already has 50,000 users.

So the next time you brush off an idea for being too silly or too simple, you may want to say  "Yo."

What do you think about this app? Do you think the Yo app is worth a million dollars? Vote in our poll, or leave a comment below or on Twitter.