'Kik is here to stay': Canadian messaging app NOT shutting down, to announce 'exciting plans' soon

Canadian messaging app Kik said it is “here to stay,” after it previously announced that it plans to shut down amid legal problems.

“Great news: Kik is here to stay!!!!AND there’s some really exciting plans for making the app even better. More details coming soon. Stay tuned,” the company’s official post on Twitter read.

Although specific details are not revealed, an earlier tweet by Ted Livingston, Kik’s CEO, on Oct. 7 said that the app had inked a letter of intent with another company, saying “they want to buy the app, continue growing it for our millions of users.”

Livingston said the potential buyer intends to keep the integration of Kik with its blockchain network Kin, which has an estimated 800,000 monthly users. However, in his latest announcement, this information was not confirmed.

He also added that it could be shifting its focus on its cryptocurrency Kin, affirming that “[N]o matter what occurs to Kik, Kin is right here to remain.”

“Kin operates on an open, decentralized infrastructure run by a dozen impartial firms. Kin is forex utilized by tens of millions of individuals in dozens of impartial apps,” he noted.

Last month, Kik announced its plan to shut down as it needed to manage the firm’s resources after the U.S. Securities and Exchange Commission (SEC) sued the company for allegedly conducting an illegal $100 million securities offering of digital tokens in 2017. As part of the move, the firm decided to slash down its number of employees to 19 and concentrate on developing the Kin token.

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