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+-- Forum: Waterloo Region Works (https://www.waterlooregionconnected.com/forumdisplay.php?fid=14)
+--- Forum: Waterloo Region Economy (https://www.waterlooregionconnected.com/forumdisplay.php?fid=26)
+--- Thread: Kik (/showthread.php?tid=458)
RE: Kik - taylortbb - 10-18-2019
Apparently Carta is taking over Kik's employees and KW office. https://carta.com/blog/carta-in-waterloo/
From what I hear everyone is getting a significant raise to match Carta's salary norms, so I expect many Kik employees will stay. Carta also intends to significantly grow the team.
RE: Kik - jwilliamson - 10-18-2019
(10-18-2019, 12:40 AM)taylortbb Wrote: Apparently Carta is taking over Kik's employees and KW office. https://carta.com/blog/carta-in-waterloo/
From what I hear everyone is getting a significant raise to match Carta's salary norms, so I expect many Kik employees will stay. Carta also intends to significantly grow the team.
Great news!
RE: Kik - tomh009 - 10-20-2019
So, it seems that MediaLab acquired Kik, including reduced staff (19 people?) and the IP. Carta takes over 51 people and the office space.
https://betakit.com/kik-app-acquired-by-holding-company-medialab/
RE: Kik - Spokes - 10-20-2019
Did Carta flip it? Or they hadn't bought the whole company?
RE: Kik - taylortbb - 10-21-2019
(10-20-2019, 08:00 PM)Spokes Wrote: Did Carta flip it? Or they hadn't bought the whole company?
Carta is in a totally different business, they have no interest in the Kik brand/software/etc. All Carta did was bulk hire many of the people from Kik to bootstrap their KW office.
The other company is buying the Kik app / other intellectual property, but obviously plans to mostly just monetize the product as it exists rather than develop it further, given they're not getting any employees. The 19 employees they referenced are the ones staying with the Kik company, which will be the "elite team" they talked about staying to work on Kin.
RE: Kik - robdrimmie - 10-21-2019
(10-21-2019, 10:31 AM)taylortbb Wrote: All Carta did was bulk hire all the people from Kik to bootstrap their KW office.
Are you certain it is all? Early articles mention 90 people being laid off [1] and the Carta announcements say 51 being hired [2]. I haven't seen anything that addresses the discrepancy.
[1] https://www.cbc.ca/news/canada/kitchener-waterloo/kik-messenger-service-closing-down-laying-off-90-staff-ceo-says-1.5295631
[2] https://news.communitech.ca/51-kik-employees-join-valley-firm-carta/
RE: Kik - taylortbb - 10-21-2019
(10-21-2019, 10:59 AM)robdrimmie Wrote:(10-21-2019, 10:31 AM)taylortbb Wrote: All Carta did was bulk hire all the people from Kik to bootstrap their KW office.
Are you certain it is all? Early articles mention 90 people being laid off [1] and the Carta announcements say 51 being hired [2]. I haven't seen anything that addresses the discrepancy.
[1] https://www.cbc.ca/news/canada/kitchener-waterloo/kik-messenger-service-closing-down-laying-off-90-staff-ceo-says-1.5295631
[2] https://news.communitech.ca/51-kik-employees-join-valley-firm-carta/
You're right, edited to say most of. I think the discrepancy is that Carta only took the KW employees, but the 90 is global. But also possible some people are going to MediaLab, possible some are lay-offs in KW.
RE: Kik - robdrimmie - 10-21-2019
(10-21-2019, 11:58 AM)taylortbb Wrote: I think the discrepancy is that Carta only took the KW employees, but the 90 is global.
Oh, that makes a ton of sense! Good call.