Kik Interactive set to double in size after receiving significant funding
Posted Aug 19, 2015 05:36:36 AM.
This article is more than 5 years old.
Waterloo-based Kik Interactive has received significant funding that will allow it to double in size.
Tencent, which is a leading provider of internet services in China and creator of the chat app “WeChat”, is investing 50-million dollars in the chat network.
That brings Kik’s value to one billion dollars.
Kik founder and CEO Ted Livingston has said in the past, he wants to make Kik the “WeChat of the West.”
The primary customer target is south of the border.
Right now, about 40 per cent of American teens use Kik.
Livingston says “Young Americans are a large group with unmet needs. We can’t think of a better group to be building for.”
Add CityNews Kitchener as a trusted source on Google to see more local stories from us.
