Kik raises $38 million on mobile

Kik has raised more than $70 million to date.
Kik

Kik Interactive, which makes a popular messaging and chat app, has raised a new sum of cash, the company said Wednesday.

The startup has raised $38.3 million in a round led by hedge fund Valiant Capital Partners. Millennium Technology Value Partners and SV Angel, among others, also participated in the round.

Kik Messenger was launched in 2009 and quickly built a following among teens and young adults. Kik now has 185 million users, which, while significant, is dwarfed by competitors such as WhatsApp and WeChat.

Still, Kik has attracted investors. The latest round brings Kik’s total funding to date to $70.5 million.

Waterloo, Ontario-based Kik also announced the acquisition of Toronto-based Relay, which makes short, animated illustrations called gifs. This is Kik’s first acquisition, the company said. The terms of the acquisition were not disclosed.

Kik did not immediately respond to CNET’s request for comment.

Check Also

8 New Google Products We Expect to See This Year

Google’s device line could end up having a particularly important moment in 2023. The company usually announces new Pixel products throughout the year. Google is expected to release its first foldable phone this year, however, which would directly compete with Samsung’s proven line of Galaxy Z Fold devices. Google also introduced its own ChatGPT rival, …

Leave a Reply

© 2024 News Today
External links are provided for reference purposes. News Today is not responsible for the content of external Internet sites.