It’s been a tough run for Kik of late. The as soon as mighty messaging service announced in late September that it will 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 individual group,” following a protracted 18 month battle with the SEC.
At this time 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.”
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 awesome firm. They wish to purchase the app, proceed rising it for our thousands and thousands of customers, and take the Kin integration to the subsequent stage. Not a performed deal but, however may very well be an awesome win win. Extra quickly.”
Together with the beforehand famous shutdown of Kik Messenger, the chief added that the far leaner group 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 impartial corporations. Kin is a forex utilized by thousands and thousands of individuals in dozens of impartial apps.”
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 finally appears like for Kik continues to be very unclear following the pretty cryptic tweet. We’ve reached out to the corporate for remark.