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Chat app Kik valued at $1-billion after investment from China’s Tencent

The Waterloo-based startup is vying to become the ‘WeChat of the West’

Sourced through Scoop.it from: www.theglobeandmail.com

The funding will be used primarily to grow the Kik team and to expand offerings on the app, and is not a precursor to a sale. “This is just a straight financial investment,” Mr. Livingston insisted. “There’s no strings attached; it’s an investment as a venture capitalist would make, but we will benefit from the informal advisory and sounding board Tencent will be for us.”

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