Chat App Kik Plans Debut of Ethereum-Based Cryptocurrency

Ted Livingston, founder/chief executive of messaging app Kik, is a Bitcoin enthusiast — so much so that he plans to debut his own cryptocurrency, dubbed Kin and based on the Ethereum network, later this summer. The company plans what is called an initial coin offering (ICO), which lets startups create their own digital money, raise funds via crowdsourcing, and thus develop their own cyber economies. Livingston had previously launched another cryptocurrency, Kik Points, in 2014, which ended its run in the fall. Continue reading Chat App Kik Plans Debut of Ethereum-Based Cryptocurrency

Corporate Shake-Up: Do Recent Twitter Departures Suggest a Leaky Ship?

  • Twitter has announced that venture capitalists Bijan Sabet and Fred Wilson, two of the company’s earliest investors, will be leaving Twitter’s board of directors.
  • Additionally, Chief Scientist Abdur Chowdhury confirmed his departure, ironically enough, through his own Twitter account.
  • “So Long and Thanks for All the Fish. Twitter was an amazing experience & even greater set of people,” tweeted Chowdhury. (The first sentence is a reference to “The Hitchhiker’s Guide to the Galaxy,” spoken by hyper-intelligent dolphins on their flight from the end of the world, reports VatorNews.)
  • The departures mark the latest in a series of related moves in what Vator refers to as a “mass exodus” that “reveals a leaky ship.”
  • Two of the company’s co-founders, Biz Stone and Evan Williams recently resigned from day-to-day operations (Williams remains on the board) and CTO Greg Pass left in May. Also, four product managers have reportedly been dismissed.
  • Other reports suggest the departure of the two directors may be less about a “leaky ship” and more about financial restructuring. “The person familiar with the matter said their departures were related to the reduction of their firms’ stakes in Twitter as part of a financing round in August,” reports The Wall Street Journal. Twitter recently announced it had raised a significant round of financing, putting the company’s worth at $8 billion.