Kik Messenger CEO Ted Livingston has announced that the iOS and Android messaging service will be shut down. The decision to shutter Kik was made not because the app receives poor engagement or user downloads, but because the company is in the midst of a legal battle with the SEC over its "Kin" cryptocurrency.

kik
In a blog post, Livingston explained that at this point Kik is one of the largest apps in the United States, with industry leading engagement amid a recent growth period over the past few months. Nevertheless, the team has decided to shut down Kik, reduce the company from over 100 employees to just 19, and focus on converting more users into Kin buyers.

Livingston said that no matter what happens to Kik, the Kin cryptocurrency is "here to stay."

While we are ready to take on the SEC in court, we underestimated the tactics they would employ. How they would take our quotes out of context to manipulate the public to view us as bad actors. How they would pressure exchanges not to list Kin. And how they would draw out a long and expensive process to drain our resources.

Together these changes will drop our burn rate by eighty five percent, putting us in position to get through the SEC trial with the resources we have.

Kik Messenger provides users with a way to connect to friends and family through text messaging, group chats, and video chats. The app doesn't require users to enter a phone number or connect it to a social network platform, so it was appealing to users interested in anonymity, letting them sign up with any name and an email address.

It's unclear exactly when the company plans to shut down Kik for good.

Top Rated Comments

H3LL5P4WN Avatar
55 months ago
So they're shutting down their actual money maker and laying off 80% of their workforce in order to pursue the wet dream of fake internet monopoly money?

That's some big brain stuff, right there.
Score: 11 Votes (Like | Disagree)
Caliber26 Avatar
55 months ago
As a promiscuous gay who frequently uses Kik for messaging hookups from questionable sites, this is very upsetting. First Craigslist. Now this.

I can’t.
Score: 10 Votes (Like | Disagree)
thisisnotmyname Avatar
55 months ago
Something seems off about this. They say Kik was healthy but they're reducing burn by shutting it down. I realize many companies can still be in burn mode but valuable but in that case why not sell it off rather than shutter it. In that latter case not only would they reduce burn effect on resources but actually bring in cash infusion for their legal fight.
Score: 6 Votes (Like | Disagree)
DDustiNN Avatar
55 months ago
Lol... wtf kind of moronic decision is this?? It’s so dumb it actually sounds like an Onion article.
Score: 5 Votes (Like | Disagree)
Muramasa Avatar
55 months ago
??I think we found the Kin employee!
Score: 4 Votes (Like | Disagree)
lunarworks Avatar
55 months ago
ICQ's still around though, isn't it?
Score: 4 Votes (Like | Disagree)

Popular Stories

iOS 17

iOS 17.2 Will Add These 12 New Features to Your iPhone

Friday December 1, 2023 12:19 pm PST by
iOS 17.2 has been in beta testing for over a month, and it should be released to all users in a few more weeks. The software update includes many new features and changes for iPhones, including the dozen that we have highlighted below. iOS 17.2 is expected to be released to the public in mid-December. To learn about even more features coming in the update, check out our full list. Journal ...
anker new xmas 1

Anker's Cyber Week Sale Enters Final Days With Up to 60% Off Sitewide

Friday December 1, 2023 12:05 pm PST by
Anker's Black Friday/Cyber Week event is entering its final days this weekend, and it's still offering up to 60 percent off sitewide. There are also a few "mystery boxes" that can include hundreds of dollars in savings, if you're willing to risk not knowing what you're buying ahead of time. All of these sales will end on December 3. Note: MacRumors is an affiliate partner with Anker. When you...
iOS 17

28 New Things Your iPhone Can Do in December's iOS 17.2 Update

Friday December 1, 2023 2:57 am PST by
Apple made the first beta of iOS 17.2 available to developers in October. Since then we've seen three more betas, and with each iteration Apple continues to add more new features and changes, many of which users have been anticipating for quite a while. Below, we've listed 28 new things that are coming to your iPhone when the finalized version is publicly released this December. 1. Help...
top stories 2dec2023

Top Stories: iOS 17.1.2 Released, NameDrop Misinformation, and More

Saturday December 2, 2023 6:00 am PST by
Apple employees are back to work following a Thanksgiving break, and that means this week saw a number of new operating system updates for both public release and beta testing. This week also saw some misinformation about Apple's new NameDrop feature making the rounds, while Apple and Goldman Sachs appear to be on the verge of a break-up in their Apple Card and savings account partnership,...
General Apps Messages

Green Bubbles on iPhone to Gain These 7 New Features Next Year

Thursday November 30, 2023 9:00 am PST by
Earlier this month, Apple announced that it will finally support RCS in the Messages app on the iPhone starting later next year. This change will result in several improvements to the messaging experience between iPhones and Android devices. RCS will become the new default standard for messaging between iPhones and Android devices, but these conversations will still have green bubbles like...
m2 macbook air green

Get Apple's M2 MacBook Air and M3 MacBook Pro for Record Low Prices

Friday December 1, 2023 6:59 am PST by
Best Buy is discounting a collection of MacBook Air and MacBook Pro models to all-time low prices today. We're tracking these deals below in addition to great discounts on the Apple Pencil 2 and Apple Watch Ultra 1. MacBook Air Note: MacRumors is an affiliate partner with some of these vendors. When you click a link and make a purchase, we may receive a small payment, which helps us keep the...
iPhone 16 Mock Header Updated 1

iPhone 16 to Include Action Button Across Entire Lineup

Thursday November 30, 2023 4:08 pm PST by
The release of the iPhone 15 Pro and Pro Max saw the introduction of an entirely new user-configurable button known as the Action button, and now, MacRumors has seen extensive evidence confirming Apple is planning to include the Action button on the entire iPhone 16 range. Designs and plans for the Action button date back to at least 2021, as the button was intended for release alongside hapt...