Kik Raises $50M From Tencent Making a Total of $120.5M So Far

Kik, the Canadian company behind the messaging app “Kik” is backed with $50M worth of funding from one of its partners. The funder is China’s Tencent (also the biggest internet company in China).

With this huge funding round, the total funding of Kik’s jumps to $120.5M. Kik’s CEO, Ted Livingston, announced the funding.

“Today we’re announcing that Tencent, maker of WeChat (Weixin), has invested $50 million in our company, Kik.”

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The funding process started about an year ago. According to the CEO, this started when the board proposed if partnership with a large company can give them a good advantage in winning the chat race. “At first I was hesitant. I was confident we could win the race alone. But, keeping in line with Kik’s principle of considering all the options, I eventually agreed to take a look.” he added.

Kik’s current positions in the top free apps on App Store is number 30 but it’s 7th in social networking!

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