Kik is a messaging app with roughly 15 million monthly users and a valuation of more than $1 billion. The company is nearly ten years old and is Canada-based. Kik’s core product is its chat platform; the company plans to build a decentralized ecosystem around its Kin token to power developer-created apps and bots. Under the Kin model, developers earn tokens based on user interactivity and attention rather than relying on advertising or e-commerce revenue. Financially, Kik raised nearly $97.5 million through a token sale (168,732 ETH from retail backers plus a $50 million institutional presale) and opted against additional VC financing. The company faced regulatory limits on Canadian participation after regulators deemed the token a security, and it imposed purchase caps with unclaimed tokens later resold. Kik operates a consumer messaging app that combines chat and experimental social features. The company has pursued strategic partnerships rather than a sale and recently accepted a large investment from Tencent to help it compete in the messaging race. Kik’s leadership says the goal is to replicate what WeChat has done in China — effectively becoming the “WeChat of the West.” The app ranks around #30 on the App Store’s top free apps and #7 in social networking in the U.S., and the company says it already generates revenue. With the Tencent investment Kik’s total funding reached $120.5M and the company entered unicorn valuation territory at roughly $1 billion. Management frames the deal as a partnership to gain advantages in product innovation and market positioning against bigger messaging players. Kik is a mobile messaging app that emphasizes chat, content and commerce for a youth audience, using a username-based approach. The company claims 185 million registered users, about 250,000 new users per day, over 60% of users in the U.S., and says 40% of Americans aged 13–25 use its app. Kik has integrated an in-chat web browser and recently acquired GIF messenger Relay to improve its core chat experience and content distribution. The Relay acquisition (terms undisclosed) brings Relay’s ~700,000 users and ~10 million GIFs sent per month; Relay founders Jon McGee and Joe Rideout will take key roles and the combined team is about 60 staff. Kik has begun monetizing via Promoted Keywords (25 partners signed) and Kik Points, and the CEO says the company is generating real revenue and is close to profitable. Future plans mentioned include a focus on payments and a possible web version to expand platform reach. Kik is a Waterloo-based messaging app that offers a mobile social messaging platform. The company recently introduced "Cards," HTML5 apps that run inside the app and which it plans to open to outside developers to create a platform. Kik is explicitly pursuing broader platform ambitions and exploring monetization options tied to Cards and developer ecosystems. The company has crossed the 50 million user milestone and is adding roughly 200,000 users per day. The new capital is intended to support ongoing growth and help mature the platform and monetization efforts. CEO Ted Livingston framed the strategy as a long-term bet on turning a messaging app into a richer platform experience. Kik Messenger is a cross-platform, real-time mobile messaging app that scans address books to connect users, shows read receipts, and syncs conversations across smartphones. The company recently released a version with real-time group chat for up to ten people and on-the-fly picture sharing. Kik launched in October 2010 and has grown virally, reaching 3.41 million users. Financially, the startup completed an $8 million Series A financing. As part of the round, Union Square Ventures’ Fred Wilson and RRE Ventures’ Adam Ludwin joined the board. Kik has faced platform friction with RIM—BlackBerry pulled the app and later sued the company for patent infringement. The app competes with other mobile chat services including Beluga, HighNote, and PingChat.

Total raised

$213M

Funding rounds

5

Latest round

Initial Coin Offering

Latest activity

Sep 2017