The popular messenger app, Kik has announced a shut-down, although it has millions of active users around the world. Kik is particularly popular among teenagers in North America.
The company said it had announced to shut-down the app because it wished to concentrate on the company’s project of Kin cryptocurrency.
Furthermore, Kik Interactive added, the decision was forced on due to its legal wrangle with regards to Kin with the US Securities and Exchange Commission (SEC).
The news will further also lead to dismissal of 80 staff members who run the Kik app. The company has however not announced a date for closure of the app.
The messenger was launched in 2010 and became especially popular because it allows its users to register without the need of providing a phone number or other credentials.
Recently the app has however been the topic of controversy as it became part of 1,100 UK child abuses case investigations carried out in the past five years. With regards to the controversy, Kik said it was “constantly assessing and improving its trust and safety measures”.
Sources suggest, the company could cut its overheads by 85% with the closure of Kik and restricting the company to 19 employees. According to Kik Interactive founder Ted Livingstone, the company was working on converting the existing million users into active buyers and customers.