Messaging app Kik secures $50m funding
Messaging app Kik has secured $50m worth of funding from one of its partners, China’s internet giant Tencent, putting the company’s total at $120.5m.
Messaging app Kik has secured $50m worth of funding from one of its partners, China’s internet giant Tencent, putting the company’s total at $120.5m.
The partnership means Kik has the potential to compete with other messaging giants to become the WeChat of the west.
Kik’s CEO, Ted Livingston welcomed the investment. “Today, there are only five other companies in the world that see the future like we do: Tencent, Line, Facebook, Snapchat, and Telegram. One of them owns the largest internet market in the world. We couldn’t be more excited to partner with them as we run this race”, he exclaimed.
Kik currently sits at number 30 in the top free apps on the App Store, 7th in social networking (both in the US).
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