Kik Falls Short On Its Kin Token ICO - "Just" $98 Millions, Instead Of $125
According to their ICO dedicated page, Kik, the so called "teen social network" closed their ICO for the internal token called Kin, with a total of 168,732 ETH, from 10,026 individuals (from 117 countries). That makes a total of almost $48 millions. Adding that to the initial $50 millions they got in a private round, we get a total of $98 millions.
But, according to the company's expectations, the target was $125 millions.
Despite this apparent shortcoming, this ICO is has a few interesting points, some of them related to my own activity here:
- with over 10,000 people subscribed, Kin may be one of the most widely distributed token in the world right now
- when I joined Steemit, almost one year ago, the total number of active accounts was around 5,000. Kik is "kicking in" with a much larger user base and that may be a consistent advantage
- with 15 millions daily active users, about 60 percent of whom are in the 13 to 24 age area, Kik is definitely targeting a very interesting demographic. These kids are tomorrow's heavy spenders and they start their journey with full pockets, so to speak.
All in all, I think Kik ICO was one of the very few ICOs worth seeing from afar (didn't participate, but I considered a legit one).
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
Your title says 25 instead of 125
Yeeap, typo, corrected, thanks!
check out Mingo, they do more than Kik and they are just looking for 2million https://steemit.com/ico/@blockz/mingocoin
This one really helped me remember to look at he cap in the ico docs.
I am cool with this coming short thing. The buyers got additional KINs distributed.
Yes, I did invest a small amount. The sale of Bitcoin Cash to BTC went into this ICO :)
Today I've received an email from Kik that initial integration in Kik app is already available. More in a separate post...
Congrats, man!
most widely spread that's really cool
@dragosroua,
Nice article but I hate ICO friend! According to my viewpoint ICO is a suicide mission :D
Cheers~
Interessing ICO . Thank you for sharing!
Thanks for the article. Excellent points. I quoted you in my update:
https://steemit.com/kin/@taipeibeat/update-on-kik-s-failed-kin-ico
Not many people here seem to be following kin / kik, which is too bad. Steemit is great, but it is not, nor will it be the only show in town.
I'm interested in the developments and to see what comes of the competition.
Cheers.