Canadian social media and messaging app Kik has printed it’s “right here to stay,” in an obvious reversal of earlier plans to close down amid legal difficulties.
In an legit tweet posted on Oct. 13, the company introduced:
“first-class information: Kik is here to stay!!!!AND there’s some particularly interesting plans for making the app even higher. Extra important points coming quickly. Keep tuned.”
“extra soon” and “stay tuned”
As previously stated, Kik had been embroiled in a high priced authorized combat with the U.S. Securities and alternate fee (SEC) over its preliminary coin offering’s designation, with the regulator suing the manufacturer for having conducted an allegedly unregistered $one hundred million token supplying.
Having pared down its group of workers from 151 to only 19 and mulled a complete shutdown — in line with a blog publish from CEO Ted Livingston late last month — the enterprise closed the Kik X beta platform on Sept. 27.
Yet the first hint of a turn in fortunes emerged on Oct. 7, when Livingston tweeted:
“Some entertaining news: we can have observed a house for Kik! We simply signed an LOI [letter of intention] with a pleasant manufacturer. They wish to purchase the app, continue developing it for our millions of customers, and take the family integration to the subsequent stage. Now not a performed deal but, however could be a pleasant win win. Extra soon”
all the way down to the bone
With further important points of the game-changing deal still to be announced, Kik’s apparent decision to shut had in the meantime been harshly criticized amongst group members. The family cryptocurrency has additionally noticeable a constant decline — without a doubt partially as a result of broader market conditions, yet unlikely helped through the manufacturer’s reputedly intractable difficulties.
Family members token three-month chart, as of Oct. 14, 2019
family token 3-month chart, as of Oct. 14, 2019. Source: Coin360
As mentioned, on the top of the firm’s stand-off with the SEC, Livingston had pledged to combat the SEC unless we don’t have a dollar left.”