Kik Messenger saved from closing by MediaLab

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Kik Messenger saved from closing by MediaLab

Kik Messenger saved from closing by MediaLab.

Kik has been in the news since the Securities and Exchange Commission (SEC) started a lawsuit against this crypto project that the SEC considers a security.

KIK’s CEO, Ted Livingston, decided to take the fight to court to prove the contrary to the SEC, he said that he will go bankrupt if he has to.

The KIK CEO had announced the closure of KIK Messenger and the dismissal of staff in order to save money and pay the millions of dollars in legal fees against the SEC.

In an article on KIK blog, the MediaLab team announces the good news and the acquisition of KIK Messenger by MediaLab.
“Kik is here to stay!” announces the title of the article.

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The company is a portfolio company with excellent Internet brands such as Whisper, Datpiff and others.
They also explain why they buy KIK Messenger, saying that Ted Livingston and the rest of the Kik team have spent 9 years building something really special.

Priorities being for the team to:

“Make the application faster, more reliable and less buggy (it’s not a reversal from the previous team that is really amazing, creating software is really very difficult!)”

“Make Kik the best place to build relationships with like-minded people, whether in a group or a 1-1 meeting.
Eradicate spam robots and unwanted messages.”

The article also discusses the integration of the cryptocurrency KIN which will go through a collaboration with Ted Livingston and his team.
The first step is therefore to improve the KIK Messenger app, MediaLab aims for the long term with this product which has already benefited from years of development by the previous team.

Of course, it is not clear how much KIK Messenger was bought and what happens to the SEC’s lawsuit against Ted Livingston.
Ted Livingston who will certainly later communicate on this subject and who must be already satisfied that a company takes over KIK Messenger who seemed doomed to disappear.

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