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The $1B valuation was for their last round which was a $50m investment by Tencent, the company behind WeChat. The investment was more about a partnership betwee
by thesausageking 7y ago
The $1B valuation was for their last round which was a $50m investment by Tencent, the company behind WeChat. The investment was more about a partnership between the companies than the economics. At the time, Kik's CEO said: "Today, there are only five other companies in the world that see the future like we do: Tencent, Line, Facebook, Snapchat, and Telegram. One of them owns the largest internet market in the world. We couldn’t be more excited to partner with them as we run this race."
- criddell 7y agoI even wonder how Tencent thought Kik was worth $50m. That seems absurd.
- thesausageking 7y agoWhen Tencent invested, it had 300m users including 40% of teenagers in the US, and were growing fast. For Tencent (which makes WeChat), it's worth it to spend 0.03% of their market cap to partner with a fast growing app in the US market.