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Kik Messaging Gets $1 Billion Valuation With Tencent Funding

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Kik Interactive Inc., a messaging application that explored options earlier this year including a sale, received $50 million in funding from Tencent Holdings Ltd.

Kik is valued at $1 billion with the investment from the Chinese technology giant, the Canadian company said Tuesday in a statement. The startup’s app is popular with young teens and has 240 million registered users. Tencent runs one of the world’s most popular messaging apps, WeChat, and was interested in learning how WeChat-like features would perform with American and Canadian smartphone users, Kik Chief Executive Officer Ted Livingston said.