Kik Completes ICO, Raising About $ 100 Million
Representatives of Kik Messenger announced on their blog about the successful completion of the sensational ICO, during which investors were offered to purchase Kin tokens, which are the platform’s own cryptocurrency. Together with the investments received during the closed presale, in total, the crowdfunding campaign managed to raise about $ 100 million.
ICOs became an incredibly popular way to raise capital for startups in 2017, but Kik became the first company to gain significant popularity to choose a new method of raising investments over traditional venture capital financing. Ryan Zurrer, head of investment company Polychain Capital, said this ICO was an “epoch-making” event for the cryptocurrency industry..
According to the information on the company’s website, more than 10,000 investors from 117 countries took part in the Kik ICO. More than half of all funds – $ 50 million – were raised during a presale attended by accredited firms including Polychain Capital, Blockchain Capital and Pantera Capital. During the public ICO, 168.732 ETH was collected, which at the current exchange rate is about $ 49 million. Not only accredited investors could take part in the ICO, but everyone had to provide a scan of an identity document at the stage of preliminary registration.
“We wanted as many investors as possible to participate in the Kin token distribution campaign. Thanks to the support we received before and during the event, we were definitely able to achieve our goal, ”said Kik founder Ted Livingston. “We see Kin as the foundation for a decentralized digital services ecosystem that will begin with Kik, and we’re thrilled to have the opportunity to create that future with you.”.
Kin tokens are immediately available for transfer. In the near future, they will be integrated into the social platform Kik as the main currency for transfers within the application..
Kik Messenger has over 300 million registered users, many of whom are under 30. Since the younger generation tends to show more interest in new technologies, Kin tokens may become the first experience of interacting with cryptocurrencies for many, after which Kik users may want to get to know Bitcoin and other cryptocurrencies.
Xapo vault may contain about $ 10 billion in bitcoins – Bloomberg Cryptocurrency startup Xapo periodically shows reporters its bunker,…
Binance will revive the Launchpad platform with the launch of BitTorrent and Fetch crowdsales.AI Binance cryptocurrency exchange has decided to revive its…
Investors filed a lawsuit against start-up Tezos Claim, which may receive class action status, against founders and promoters…