The Los Angeles holding company, MediaLab, recently purchased the Kik messaging app. The announcement was made originally though a Tweet made by Kik Chief Executive Tim Livingston, where he stated that the company signed a letter of intent. Later, Kik published a blog post, stating that the acquisition was finalized.
MediaLab is a holding company that has made similar acquisitions in the past. Previously, MediaLabs purchased other mobile apps, including the anonymous social media platform Whisper, as well as DatPiff, which is a mixtape app.
MediaLabs will also attempt to optimize the Kik messaging app. The company stated that it attempt to made Kik faster, and have far fewer spam accounts on the platform. Additionally, MediaLabs stated that it will run ads on the platform, in order to offset costs from the acquisition.
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