Kik, the $1 billion Canadian messaging app operator, is planning to raise $125 million through an initial coin offering on September 12.
Kik, which was founded by a group of college students in 2009, is actively used by 15 million people per month and reaches 40% of American teenagers, according to the company.
ICOs, a red-hot way to raise money using the technology behind bitcoin, have exploded this year with over $1.8 billion raised year-to-date, according to data from financial technology analytics provider Autonomous NEXT. They've allowed some companies to circumvent traditional fundraising methods, such as from venture capital and via the capital markets, to raise millions of dollars in a matter of seconds.
Submitted August 29, 2017 at 11:52PM by sana128 http://ift.tt/2vHWyy2
