MediaLab Acquisition Saves Kik Messenger From Imminent Shutdown
Multimedia holding company MediaLab officially acquires the popular messaging app Kik, rescuing it from a previously rumored shutdown. The new owners plan to introduce ads, reduce spam bots, and improve the app's overall speed.
Popular messaging app Kik avoids an unexpected shutdown as Los Angeles-based multimedia holding company MediaLab officially acquires the platform. This move confirms previous hints from Kik's chief executive Tim Livingston, who recently rejected reports of the app's demise amid an ongoing battle with the U.S. Securities and Exchange Commission. MediaLab expresses strong enthusiasm for the acquisition, praising Kik's unique ability to connect people over shared niche interests.
By adding Kik to its portfolio, MediaLab expands its collection of mobile properties, which already includes the anonymous social network Whisper and the mixtape app DatPiff. The holding company outlines clear plans for the messaging app's future, promising to make the platform faster and significantly reduce the number of unwanted messages and spam bots that plague the user experience.
To support the financial costs of maintaining the platform, MediaLab states that it introduces advertisements to Kik over the coming weeks. This acquisition gives MediaLab CEO Michael Heyward another powerful social media tool as he continues to manage his existing properties. Heyward originally gained prominence in the Los Angeles tech scene through the launch of Whisper nearly eight years ago, and he now looks to guide Kik into its next profitable chapter.