Get your motor running
US$1 billion, according to a Kik statement.
With the capital, Kik aims to build a chat-based ecosystem around its base of American youth.
The company says 70 percent of its 240 million registered users are between 13 and 24 years old, and that 40 percent of U.S. teens use Kik.
“Young Americans are a large group with unmet needs. We can’t think of a better group to be building for,” said Ted Livingston, founder and chief executive of Kik. expansion plans Tuesday with a US$200 million investment from NBCUniversal.
The deal with NBCU, a division of the media and cable conglomerate Comcast, calls for “strategic partnerships” between the two groups, which could allow sharing of content between BuzzFeed and the vast NBC television operations.
The deal values the “social news” pioneer at some US$1.5 billion, according to several media reports. The companies did not comment on the valuation terms of the investment.
Toshiba’s shares jumped 6.2 percent early Wednesday, after the reshuffle was announced late Tuesday. The plan needs shareholder approval. costs over a third.
But around half of the HK$7.08 billion gain was offset by losses from oil hedging, and profits missed the HK$2.22 billion median estimate of six analysts polled by Bloomberg News.
Indonesian media and visitors are seen on the exhibition floor during a press preview of the Indonesia International Motor Show 2015 in Jakarta, Wednesday, Aug. 19. The 11-day show, the country’s largest, opens on Thursday, Aug. 20 with more than 50 brands exhibiting their latest cars and motorcycles.