If even ten percent
of Kik users start actively using Kin, it will become more popular than bitcoin!
The company is the maker
of Kik, a chat platform popular with U.S. teens where people can chat with friends and connect with chat - based services.
«Kin will fuel new experiences in communications, information, and commerce inside
of Kik, and will also serve as a foundation for a new decentralized ecosystem of digital services, bringing a fair and sustainable business model to the market.»
In First Step to Launching a Decentralized Ecosystem of Digital Services, Kin Cryptocurrency to Fuel Communications, Information, and Commerce Inside
of Kik
Ted Livingston, Founder and CEO
of Kik, discusses how everyday digital activities are increasingly controlled by fewer and fewer companies, and announces a new cryptocurrency — Kin — to support a more open and decentralized Internet ecosystem.
Livingston, the founder and CEO
of Kik, a chat app used by 15 million people monthly, never shook his early conviction.
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«Kin will fuel new experiences in communications, information, and commerce inside
of Kik, and will also serve as a foundation for a new decentralized ecosystem of digital services, bringing a fair and sustainable business model to the market.»
• Centerbridge Partners has completed its previously - announced acquisition
of KIK Custom Products, a Canadian maker of pool and spa treatment products, from CI Capital Partners.
(Oddly, there's no mention
of Kik.
The University of Waterloo recently received a $ 1 - million donation from former student Ted Livingston, the 23 - year - old founder
of Kik Interactive, creator of a popular social - messaging service for iPhone, Android and BlackBerry users.
Not exact matches
Video is another big trend, with billions watching hours
of videos on Facebook and YouTube each and every day, and many marketing and PR pros are turning to messaging apps such as Snapchat or
Kik in order to reach younger consumers.
Kik's chat ecosystem is growing, albeit slower than the flood
of articles hailing the bot revolution might lead you to believe.
Last August, Livingston got himself a powerful ally in the battle to build a WeChat - like ecosystem on this side
of the world: Tencent, which made a US$ 50 - million strategic investment in
Kik.
A nine - figure valuation and toe - to - toe battle with Facebook have inevitably made
Kik the subject
of Canadian boosterism, and both the firm and its founder are now fixtures in lists
of up - and - comers and politicians» success speeches.
Kik's fiercest competitor in the battle to dominate this new era
of interfaces is Facebook, which has been encouraging developers to build bots for its Messenger platform and whose WhatsApp subsidiary is finally opening up to business uses.
and a host
of other startups, told Business Insider he took part in
Kik's $ 50 million (# 39 million) token presale, where investors were given a chance to buy the messaging app's new digital currency «Kin» before the general public.
Kik Messenger has been very successful since its launch and gained three million registrants between November 2010 and January
of this year — a rate
of three new users per second.
But, he argued,
Kik has millions
of users and a «respectable product.»
Even
Kik, founded by a guy who worked at BlackBerry as a student at the University
of Waterloo, claims to have 100 million users, which would make it larger than BBM.
Sale proceeds will be used to build a new platform: the Kin ecosystem, which will offer a host
of decentralized products and services, according to
Kik «s white paper.
Executives at BlackBerry were divided over the future
of BBM for months before they chose to go ahead with the plan, fuelled by the growing number
of competitors on the market, including WhatsApp and Waterloo, Ont. - based
Kik Messenger, both which are available on BlackBerry and other phones.
Far too often, apps with video - calling features — like Facebook and
Kik — add layers
of complexity that might be pretty impressive when you first discover them, but are easily forgotten about.
Kik offers richer engagement than you'd get on a broadcast - based platform like Facebook or Twitter — the comedy video website Funny or Die, for example, has had conversations with 1.5 million chatters on
Kik, and users send an average
of seven messages to a brand per chat.
Kik is the chosen vehicle
of young North Americans.
If an IPO really is the goal,
Kik's reluctance to disclose its internal valuation makes sense — without a huge number hanging over its head,
Kik stands a better chance
of a successful share offering.
The talent coming out
of the city's universities is top - tier and tends to stick around and
Kik doesn't face the same poaching problems as most San Francisco firms.
While
Kik likely makes the ten - figure cut (Livingston also won't disclose
Kik's own valuation figures), it tends not to attract the kind
of buzz that venture capitalists and the tech press fawn over.
And although Parker wouldn't speak specifically to
Kik's future plans, he says Spark hopes all its firms end up as «independent, publicly traded companies that are sustainable, profitable, have a global audience and reach, and are employing thousands
of people around the world.»
Kik co-founder and chief technology officer Chris Best hinted as much during an episode
of The Disruptors on Business News Network, grinning and admitting that «probably, possibly, at some point, yes» that would be the goal.
It's why he helps
Kik make introductions in the Valley and why Livingston says it hired Qatalyst, which has connections in the highest ranks
of the tech industry's top companies.
«A lot
of youth are using messaging, and if they stick with it, [
Kik will] be a fixture for many, many years to come,» he observes.
Since its soft launch in Canada last June, 12,000 applicants and 250 companies including
Kik, Shopify, Influitive, Wealthsimple and Wave have made more than $ 60 million in job offers, with an average salary
of $ 92,000, as
of November.
Kik is not for sale, even if the buzz coming out
of the technology industry would have you believe otherwise.
According to Justin Waldron, a co-founder
of the Internet gaming company Zynga and advisor to
Kik, the only thing staying in Waterloo costs the company is exposure.
Both moves appear aimed at Snapchat, the app with which
Kik has the highest affinity, says Waldron, meaning users
of one are likely to have downloaded the other.
Then BlackBerry, where Livingston had spent time as a University
of Waterloo co-op student, sued the company for patent infringement and pulled
Kik from its app store.
Kik runs in the back
of this pack.
Kik is the first example
of this, but expect to see more.
Last week, for example, the popular messaging app
Kik announced it would embark on a similar token offering, becoming one
of the first mainstream brands to embrace the concept.
With big sales slated to come from
Kik ($ 125 million) and Kyber ($ 60 million) among others before the end
of September, the total raised in Q3 may well top the previous quarter — but the big question is what happens next.
Over the past year we've seen an explosion
of great bots on
Kik, and we want to show them off a little.
The success
of the VeloCity environment helps with companies like
Kik and Vidyard being a part
of it.
In other words, look for Burger King to say hi to you on
Kik instead
of pushing you to download a branded keyboard.
Popular chat app
Kik has unveiled plans to deploy its Kin tokens on both the Ethereum and Stellar blockchains, making it one
of the first cryptocurrencies to feature bidirectional network support.
Kik, which was founded in 2009 by University
of Waterloo students, recently said that it will deploy its Kin token on multiple blockchains to enhance liquidity and efficiency within its ecosystem.
«I say no to almost everything,» said Ted Livingston, co-founder
of popular Waterloo - based mobile instant messaging service
Kik and an early G7 member.
With millions
of users,
Kik hopes to drive mainstream consumer adoption
of Kin, potentially making it the most adopted and used cryptocurrency in the world.
KIK did NOT infer that all
of Utah was Mormon, so I think it is YOU that should think before responding.
«We have been impressed with
Kik's thoughtful approach to the creation and distribution
of Kin, and have confidence that the team will execute their vision
of creating a decentralized ecosystem
of digital services through Kin.»