November 20, 2014 Comments Off on Messaging apps are the future of social
The rise of smartphones has contributed to the phenomenal rise of messaging apps. According to intelligence data from the Business Insider, WeChat, LINE, WhatsApp, and Snapchat are all growing their user numbers in 2014 at a quarterly rate of 15% or higher. Facebook-owned WhatsApp has the highest number of users at 500 million, followed by rivals WeChat, LINE, and Facebook Messenger. It’s also interesting to note that messaging apps are becoming the new hub for social interaction. In fact, according to a report by Forrester Research, it is predicted that messaging apps will soon become the new pivot point of social media, with a potential to become powerful digital gateways that integrate social media, ecommerce, location-based services and payment services. It’s no surprise that acquisitions and investments in the mobile messaging space continue to increase. In October, Yahoo acquired MessageMe for a rumoured $30-40 million and invested $20 million in Snapchat. And today, formidable player Kik, a Canada-based messaging app, has raised a $38.3 million Series C funding round and acquired Relay, a mobile messaging service.
You can read about Kik’s funding here.
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