Messaging Company Kik Seeking Strategic Partnerships Rather Than Sale

TechCrunch

Kik, the mobile messaging app company based in Waterloo, Canada, is assessing opportunities to advance its service through partnerships and strategic investment with established tech firms. Contrary to media reports, however, it is not shopping around for a sale.

Bloomberg today reported that Kik, which developed a mobile messaging app with over 200 million registered users, is “exploring a sale” and/or new financing after contracting in Qatalyst. That comes just weeks after Facebook turned its Messenger service into a platform, and against a backdrop of news that has raised the profile of messaging over the past year — including Facebook’s $19 billion acquisition of WhatsApp and rise of Snapchat, which was valued at $15 billion following a recent investment from Alibaba.

Reports that Kik is pursuing a sale make sense within that context — except that the company isn’t.

TechCrunch understands from a source within Kik that, while the company has hired Qatalyst, it did…

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Author: rjbailey

"I have no idea what I'm doing, but I know I'm doing it really, really well." - Andy Dwyer

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