Coins Kik (KIN)

MediaLab Buys Kik Messaging App, Shares Plans to Expand KIN Project

The messaging app Kik was sold to MediaLab this week. Now, the holding company, which also operates another product called Whisper, is set to manage Kik as well. This happened because Kik Interactive, the company behind the messaging app, decided to shut down last month.

Kik’s CEO Ted Livingston announced just last week that the company would be sold and the sale was made soon after that. According to him, MediaLab believes that Kik is still to see its “best days” and it is willing to bet on this. Now that the product was acquired, Kik will change in several aspects. One of them is the integration of ads to acquire more revenue.

Crypto Ecosystem To Continue

Kik Interactive is currently in a legal battle with the U. S. Securities and Exchange Commission (SEC), which accuses it of violating the securities law with its Initial Coin Offering (ICO). The whole fight, which has been expensive for the company, is one of the reasons why Kik had to shut down.

This does not mean that the crypto plans of the company are dead, though. The Kin ecosystem will continue to exist if it depends on Livingston. He affirmed that he would continue to build on the ecosystem and that the messaging app would also continue its plans to provide crypto transactions.

MediaLab’s goal is to improve the app by reducing the number of bugs and glitches and collecting feedback from users in order to discover the features that could be interesting. This way, the service would continue to be useful and to offer what its clients need the most. They added;

“We are fans of Kin and believe in its long term potential. We are excited to further partner with Ted and his team on expanding the Kin integration and have plans to further support the project. We’ll have more to share on that front soon.”

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