Given that a "Yo" usually follows a more detailed text message like "Text me when you're downstairs," I think the total finger-on-screen time would be higher to open the Yo app and search for the right contact.
I assume that Yo has another plan that they haven't gone public with yet, since "Company that just says Yo raises $1m" is more newsworthy than "Company to solve problem X raises $1m." They'll get people to download the app and then add the new functionality with an automatic update.