kik pulls together a magic financing deal. RIM better suit up in court.

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I’ve written about Kik a couple of times. Particulalry about how Ted Livingston (former Co-op at RIM) was being being sued for possibly using the “inside info” he gathered while working in their BBM group. I also pretty much said a financing was out of the question for them. 

Boy, was I wrong.

Today kik announced a $8 Million financing with some of the premiere VC names from south of the borderRRE, Spark, and Union Square.

So what does this mean for kik? They can excute on their business while they can also fend off RIM. A great win for them. 

What does this mean for RIM? They’re in for a protracted legal battle with a well funded startup and an even better connected board. And if as rumored they release a multiplatform BBM Client that competes with Kik messenger it could make for a much more interesting legal and PR tussle. Especially while they try and build an ecosystem around their new tablet.

Congrats to Ted Livingston and the rest of the Kik team!  Should be fun to watch the next steps. 

The Author

Hi. My name is Matt Roberts, you can find me at www.mattroberts.com.

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