MediaLab has been gradually growing its presence by acquiring various engaging mobile applications and services, such as Whisper, an anonymous social network platform, DatPiff, a mixtape app, and MangaLife, a reading app that regularly uploads series of mangas.
Recently, the company announced plans to expand its portfolio by acquiring trending messaging app, Kik. Apparently, the company has some innovative ideas for the platform which would boost the application’s speed as well as cut the number of unnecessary spam bots and messages.
Moreover, the firm is planning to launch ads in the forthcoming weeks, a move that will cover the expenses” of operating the application.
Sources cite that Kik has evolved into an engaging platform that homes every passion, such as an obscure manga or a renowned football team, and has demonstrated an incredible ability to offer a platform to connect with new people over a smartphone.
As for MediaLab, acquiring Kik would further strengthen its app portfolio and add a social media advantage to team of MediaLab and its Chief Executive, Michael Heyward.
Reportedly, Kik had previously been in headlines when it revealed it would shutting down its messenger app, to focus more on its other cryptocurrency platform Kin. Apparently, Kin was on the eye of a lawsuit that was issued by the U.S. Securities and Exchange Commission (SEC). The firm’s team was also trimmed to 19 people, a move that would affect over 100 employees, as it aims to convert more Kin users into buyers.
However, according to a latest update, Carta, a San Francisco based company that manages ownerships and equities, further revealed that it had hired 51 employees formerly working for Kik.
Speaking on which, Carta CEO Henry Ward said that the team they are hiring is talented, mission-driven, ambitious and kind, and will help their firm build better products for all types of stakeholders.