with china funding messaging app kik joins unicorns
Last Updated : GMT 02:57:08
Arab Today, arab today
Arab Today, arab today

Raised $50m from Internet giant Tencent

With China funding, messaging app Kik joins unicorns

Arab Today, arab today

Arab Today, arab today With China funding, messaging app Kik joins unicorns

Chinese Internet giant Tencent
San Francisco - Arab Today

Canada-based smartphone messaging application Kik said Tuesday it raised $50 million from Chinese Internet giant Tencent, saying the two firms have a "shared vision."

The funding vaults the firm launched by University of Waterloo students into the so-called "unicorn" club of startups with valuations over $1 billion, according to a Kik statement.

With the capital, Kik aims to build a chat-based ecosystem around its base of American youth.

The company says 70 percent of its 240 million registered users are between 13 and 24 years old, and that 40 percent of US teens use Kik.

"Young Americans are a large group with unmet needs. We can't think of a better group to be building for," said Ted Livingston, founder and chief executive of Kik.

Livingston said Tencent, which operates the WeChat messaging service in China, was the best partner for his firm because it allows users to connect with friends as well as shop, order taxis, and play games, among other things.

"It was clear they understood chat deeply, making them a great sounding board," he said in a blog post.

"When we met the Tencent team in China, it became clear that we had a shared vision. We agreed that someone would do in the West what WeChat was doing in China. The only question was who. We both believe it could be Kik."

The Ontario-based group launched in 2009 has 51 employees, according to its website.

In its mission statement, Kik says "the smartphone era represents a transformation as big as the rise of the PC or the creation of the Internet" and that "chat is at the core of the smartphone era."

Tencent, in its most recent quarterly report, saw its net profit surge by 25 percent buoyed by growth in online advertising revenue and from WeChat.

WeChat, also known as "weixin" or micro-message in Chinese, has reached 600 million in monthly active users since its launch in 2011.

The app is more versatile than US rival WhatsApp, allowing its users to find each other by shaking their smartphones, book and pay for taxis, as well as send text, photos, videos and voice messages.
Source: AFP

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

with china funding messaging app kik joins unicorns with china funding messaging app kik joins unicorns

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

with china funding messaging app kik joins unicorns with china funding messaging app kik joins unicorns

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday