China's Tencent Invests $50M in Waterloo's Kik

18 August 2015

Waterloo, Ont.-based Kik Interactive Inc. has found the big investment it's been looking for this year. China's Tencent Holdings Ltd. has taken a $50-million stake in the Canadian mobile messaging company, which is said to now be valued at more than $1 billion. Kik says the investment from Tencent, whose messaging app WeChat has evolved into handling e-commerce, will allow it to hire more workers, add services to the platform, and emulate Tencent's rise. "The more we connect not only people, but also connect services and business, the more they'll want to stay as they get older," said Kik CEO Ted Livingston.

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