Kik says it’s ‘right here to remain,’ following shutdown stories – TechCrunch


It’s been a tough run for Kik of late. The as soon as mighty messaging service announced in late September that it could be shutting down its app. CEO Ted Livingston famous in a blog post that the startup could be trimming its headcount from over 100 individuals to “an elite 19 particular person staff,” following a protracted 18 month battle with the SEC.

In the present day the service famous on Twitter, nonetheless, “Nice information: Kik is right here to remain!!!! AND there’s some actually thrilling plans for making the app even higher. Extra particulars coming quickly. Keep tuned.”

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The information follows an October 7 tweet from Livingston that famous, “Some thrilling information: we might have discovered a house for Kik! We simply signed an LOI [letter of intent] with an ideal firm. They need to purchase the app, proceed rising it for our hundreds of thousands of customers, and take the Kin integration to the subsequent stage. Not a accomplished deal but, however could possibly be an ideal win win. Extra quickly.”

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Together with the beforehand famous shutdown of Kik Messenger, the chief added that the far leaner staff could be shifting its focus to its cryptocurrency, Kin. “[N]o matter what occurs to Kik, Kin is right here to remain,” Livingston mentioned of the two-year-old forex on the time. “Kin operates on an open, decentralized infrastructure run by a dozen unbiased firms. Kin is a forex utilized by hundreds of thousands of individuals in dozens of unbiased apps.”

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Kin was the topic of an SEC lawsuit earlier this 12 months, following its $100 million ICO increase. “The SEC fees that Kik offered the tokens to U.S. buyers with out registering their provide and sale as required by the U.S. securities legal guidelines,” the fee wrote in June.

What the longer term in the end seems like for Kik remains to be very unclear following the pretty cryptic tweet. We’ve reached out to the corporate for remark.

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