made this announcement<\/a> to the App\u2019s members on October 18. In the blog post, it maintained that the acquisition is for the development of the app to reach further heights.<\/p>\nThe company also pointed out that it is going to continue adopting the app\u2019s Kin token crypto coin.<\/p>\n
MediaLab promised to grow the token to become one of the best in the industry in terms of capitalization and market returns.<\/p>\n
The company said it wants a long-term future for the token and is already committed to achieving that.<\/p>\n
In the blog post, MediaLab explained how it wants to turn the fortunes of the app, pointing out that the app has not seen its best days yet.<\/p>\n
MediaLab fully committed<\/h2>\n
Although MediaLab did not provide full details of their work on the Kin token, the company reiterated its desire to provide full support for the token\u2019s long term growth.<\/p>\n
MediaLab revealed that it would continue working with the App\u2019s founder, Ted Livingston, to make sure the Kin token reaches the goals set by the two parties.<\/p>\n
To boost revenue for the project, MediaLabs will introduce ads on the platform before the end of the year.<\/p>\n
Users of the platform recently rebuffed the idea, as they pointed out that the ads will be intrusive.<\/p>\n
However, MediaLab has assured them it won\u2019t, in any way, affect their normal use of the app. The company will include the ads in a non-intrusive way, according to the company.<\/p>\n
MediaLabs also mentioned that the company has plans to remove unwanted messages and spambots that have affected the reputation of the app.<\/p>\n
The plan will minimize the number of bugs and make the apple more reliable and faster.<\/p>\n
Kik still fighting SEC over violations<\/h2>\n
The Securities and Exchange Commission (SEC) accused Kik of violating securities laws after raising about $100 million through its Kin token offering in 2017.<\/p>\n
Livingston recently said that Kik would try to make sure Kik gets off its back.<\/p>\n
He reiterated that the offshoot of that SEC\u2019s lawsuit is still affecting the token till today.<\/p>\n
The company has downsized, laid off some of its staff, and cut down its expenses to manage the token effectively.<\/p>\n
He further highlighted that the Kik would not rest until it settles its disputes with SEC.<\/p>\n
The company will keep fighting with everything until it comes out of the current problem.<\/p>\n
With the acquisition of Kik, it seems Livingston has realized the company needs a helping hand and a financial facilitator if its native token (Kin) is ever going to stay relevant again.<\/p>\n
To many, this move could be a step in the right direction for both the former owners and the new owner.<\/p>\n","protected":false},"excerpt":{"rendered":"
The hot news currently in circulation is the acquisition of the Kik messaging App by MediaLab. The Santa Monica-based company still wants to continue with
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