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Kik Expects to Boost Funding, Bring Legitimacy to Coin Offerings

Aug. 29, 2017, 9:35 PM

Canadian messaging startup Kik Interactive is about to get its biggest cash infusion yet — but this time much of it will come from regular people instead of venture capitalists.

The Waterloo, Ontario-based firm expects to raise $125 million from an initial coin offering, a process by which it sells tokens that can be used to buy services on its platform. The idea is that as more people use Kik, the value of those tokens, called Kin, will rise. Kik has already raised $50 million from blockchain-focused investment firms, and will release another $75 million worth of tokens Sept. 12 ...