Waterloo-based startup receives venture capital
Posted Mar 7, 2011 02:15:38 PM.
This article is more than 5 years old.
A local tech startup is getting a cash injection.
Waterloo-based Kik Interactive, the makers of the popular mobile chat app Kik Messenger have received US$8 million in venture capital funding to grow their company. It comes from RRE Ventures, Spark Capital and Union Square Ventures.
Kik Interactive, which now has more than 3.4 million users for its free app, also announced today that it is launching new features including group chat and photo sharing.
The company is facing a patent infringement lawsuit by Research in Motion claiming that it used confidential trade secrets in creating Kik Messenger.
Kik’s founder and CEO Ted Livingston once worked for RIM.
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