KIK, the most popular instant messaging app in Can

2022-09-29
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On November 19, according to foreign media reports, the Canadian instant messaging application KIK is getting more cash to help it compete with rivals snapchat and tango

the Canadian startup said in an interview that it had received a round of financing of $38.3 million led by hedge fund valiant Capital Partners. New investors in this round of financing include Millenium technology value partners and SV angel, as well as old investors who were early investors in the company

KIK has quietly built itself into one of the most popular apps in apple and Google App Stores. From 5% in 2010, its registered users have accumulated 185MILLION. Unlike some other mobile chat applications, KIK does not need a number to register. Ted Livingston, CEO of the company, said that this made KIK popular with teenagers who were unwilling to share their numbers

KIK will use this new financing to build its free mobile application into a profitable business. Earlier this year, the company began to help Seventeen magazine, the largest selling Girl Magazine in the United States, and headphone manufacturers to verify the quality of materials by promoting chat, and Skullcandy interacted with their users. Advertisers use KIK's technology to create a brand chat robot. KIK provides users with promotional chat, while KIK charges about 20 cents per user. Unusual funding for KIK can help this start-up gain a foothold in the fierce competition in the instant messaging application market. 68% of KIK's users are in the United States

snapchat, another popular application, has 100million monthly active users, and the company has raised $150million. According to sources, snapchat is also carrying out another round of financing, which will make the company's valuation reach $10billion. Tango, a chat app, has 250million registered users. If the stress continues to increase to point C, the company has raised $360million from Alibaba and other investors. Last month, snapchat began selling its first ads, when it said it would never horribly target ads of user interest

according to the research report released this summer by COMS, a market research company, during the period of establishing "Internet +", 2.5% of the time that American teenagers aged 18 to 24 spent using apps in June this year was given to KIK, ranking seventh, ahead of Facebook messenger and Netflix, but behind snapchat. With its new round C financing, KIK announced the acquisition of animation GIF tool developer relay. Relay will be integrated into KIK's application, and a separate GIF service will be closed on December 15. Details of the terms of the acquisition were not disclosed

Livingston founded KIK in 2009. Originally, the application was designed to share music in BlackBerry's instant messaging service. But in 2010, he will provide music sharing and chat functions separately. He said chat is a highly popular function, and decided to focus on it. In 2010, blackberry filed a lawsuit against the company, claiming that KIK infringed its patents. Last year, KIK settled the lawsuit with blackberry, but the details of the settlement were not released

Livingston said that KIK began to negotiate with investors about its round C financing at the beginning of this year, and before that, Facebook invested $19billion to acquire WhatsApp. What KIK does is not sell itself, but get more investment to accelerate its growth plan. In the coming year, the company plans to double its staff from the current 60 to about 120 through recruitment from the Engineering Department of the University of Waterloo. Livingston declined to comment on the valuation of KIK, which was valued at $60million in the last round of financing in April 2013. KIK has raised about $70million, and investors include foundation capital, RRE ventures, spark capital and Unoin square venture

kik's first batch of advertising partners said they had felt strong performance from promoting chat. Headphone manufacturer Skullcandy said that in the past three months, it has obtained 307000 chat users through KIK, almost three times the number of users through Twitter, and Skullcandy has had a twitter account for five years

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