Kik vs SEC: Company finds a new owner amidst the legal battle – Cryptocurrency News

MediaLab has acquired the Kik messenger app and will continue to develop it. Unveiled in the latest post on Kik's blog, MediaLab plans to make the application faster and bugs-free, and also get rid of spambots. The firm doesn't aim to change the working of the network; however, plans to modify and enhance the platform. MediaLab owns several internet brands.

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While Kik Interactive has opted to focus on cryptocurrencies, its messaging app will now develop under a new owner. In a new post on Kik blog, MediaLab has revealed acquiring the messaging network from its network and plans to expand the application further.

MediaLab, the owner of several other internet brands like Whisper, DatPiff, Manga Life, and more, announces its aims to make Kik messenger faster and less buggy. The owner also mentions getting rid of spambots. The holding company doesn’t intend to change the working of the platform and praised the feature of forging connections through a common interest. However, a few innovations, like the video chat toggle and the third-party bots platform will be discontinued to accomplish the new developments.

Kik Interactive is currently in a battle with the Securities and Exchange Commission. The agency has sued the company for an illegal, unregistered securities offering carried out in June 2017 that raised $100 million. The network announced giving up on its messaging service in September to downsize and be capable of affording the lawsuit fight.

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Saloni Sheelwant
Saloni Sheelwant treasures to research and write about the new startups and technologies thriving at a very fast pace.

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