Kik's $100 mln in proceeds from token sale below expectations: Reuters

Kik Interactive, which created the global chat platform Kik, valued at US$1 billion, said this week it raised nearly US$100 million in the sale of its own token, below its expectations, Reuters reported. A volatile crypto-currency market has partially reduced demand for token offerings, the Waterloo, Ontario-based company said. In late August, Kik said it expected to raise US$125 million. Kik, a free chat and messaging application, is the first social media application to create its own digital currency. The company considers its token offering a success, noting that more than 10,000 people from 117 countries participated.

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