INSUBCONTINENT EXCLUSIVE:
It been a rough run for Kik of late
The once mighty messaging service announced in late September that it would be shutting down its app
CEO Ted Livingston noted in a blog post that the startup would be trimming its headcount from over 100 people to &an elite 19 person team,&
following a protracted 18 month battle with the SEC
Today the service noted on Twitter, however, &Great news: Kik is here to stay!!!! AND there some really exciting plans for making the app
Stay tuned.
Great news: Kik is here to stay!!!!AND there some really exciting plans for making the app even better
mdash; Kik (@Kik) October 13, 2019
The news follows an October 7 tweet from Livingston that noted, &Some exciting news: we may have
found a home for Kik! We just signed an LOI [letter of intent] with a great company
They want to buy the app, continue growing it for our millions of users, and take the Kin integration to the next level
Not a done deal yet, but could be a great win win
More soon.
Some exciting news: we may have found a home for Kik! We just signed an LOI with a great company
They want to buy the app, continue growing it for our millions of users, and take the Kin integration to the next level
Not a done deal yet, but could be a great win win
More soon https://t.co/SeLjf9bEaG
mdash; Ted Livingston (@ted_livingston) October 7, 2019
Along with the previously noted shutdown of Kik
Messenger, the executive added that the far leaner team would be shifting its focus to its cryptocurrency, Kin
&[N]o matter what happens to Kik, Kin is here to stay,& Livingston said of the two-year-old currency at the time
&Kin operates on an open, decentralized infrastructure run by a dozen independent companies
Kin is a currency used by millions of people in dozens of independent apps.
Kin was the subject of an SEC lawsuit earlier this year,
following its $100 million ICO raise
&The SEC charges that Kik sold the tokens to United States investors without registering their offer and sale as required by the United
States securities laws,& the commission wrote in June
What the future ultimately looks like for Kik is still very unclear following the fairly cryptic tweet
We&ve reached out to the company for comment
