Kik Interactive found a new owner for Kik Messenger in internet company MediaLab. They want to make the app faster, less buggy and free from spam bots. MediaLab and Kik Interactive announced the buyout on Friday. The parties didn’t reveal any financial details about the deal.
MediaLab isn’t a major name on the market. However, the company does have some apps that might ring a bell. Whisper is an anonymous communication platform, DatPiff is an hip-hop oriented music platform. In addition Manga Life is a community-powered platform for sharing homemade manga.
To move Kik forward MediaLab will first take a few steps back. They will discontinue video chat and the option for third party bots. Even though Kik Messenger will not longer be part of Kik Interactive, the app will remain part of the Kin ecosystem.
“We are fans of Kin and believe in its long term potential. We are excited to further partner with Ted and his team on expanding the Kin integration and have plans to further support the project. We’ll have more to share on that front soon.”MediaLab press announcement
The new owner of Kik Messenger is going to cut some features of the messenger. Even though MediaLab said they are removing spam bots, RageBot is the only one that’s still allowed. The company even suggested it will be further integrated into the app. “In fact we’re hoping to announce some exciting news with the team behind RageBot in the very near future”, they wrote.
Kik sold because of Kin
Two years ago Kik Interactive launched an ICO for its own blockchain platform. Kin became the token for that platform. The integration of the Kin token into Kik Messenger essentially is the cause of all the problems. The company managed to gather 100 million dollars with its ICO. This caught the attention of the U.S. Securities and Exchange Commission. The SEC believes the company issued unregistered securities.
The SEC is now suing Kik Interactive. CEO Ted Livingston wants to fight them in court, until the company has no money left. To cut costs he planned on shutting down Kik Messenger. He would only work on the Kin ecosystem with a small core team. If a buyer wouldn’t be found, the app would cease to exist this Saturday.
Also published on Medium.