If there were any doubts about whether Kik would be able to attract investors to its initial coin offering (ICO), it's safe to say they have been put to rest.
In an announcement yesterday, the mobile messaging app provider revealed it has already raised $50 million from investors to launch its new "kin" token, and that it intends to raise a further $75 million in a public token distribution to be held in September.
It's a landmark for the nascent industry, one that finds a mainstream brand with millions of users backing a nascent funding mechanism that has been equally praised and parodied.
And while critics of ICOs, and Kik's particular plan, will remain, investors believe the kin token will boost the value of the company, and they're putting millions of dollars up to back the idea.
Full story at http://bit.ly/2wrRekd
Source: CoinDesk
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