Top Morgan Stanley economist says Yo to a bizarre new app

Yo, the new app that raised $1.2m (£705,000) for its simple one-word communication platform last week, got an endorsement from a surprising source yesterday.

The app allows users to send each other only one message – the word “YO”, and was championed by Morgan Stanley global chief economist Joachim Fels.

“When I first read about this latest must-have messaging app... I thought it was utterly ridiculous,” Fels said.

However, he added: “Here’s my Sunday confession: the more I think about it, the more I like the ‘yo’ concept.”

“I’m a minimalist... Coping with complexity requires filtering, sorting, reduction, concentration and, at least sometimes, simplification. Sometimes, a simple ‘yo’ can say and mean more to your ‘contacts’ than all the babble,” he concluded.

Moshe Hogeg, the chief executive of website Mobli is investing $200,000 in Yo, leading a round of $1.2m in funding.

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