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Messaging app Kik saved via acquisition

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Messaging app Kik was on the verge of shutting down, but an acquisition may save it.

Officials with MediaLab, which also owns Whisper, another anonymous social media app, said "Kik's best days remain ahead of it." MediaLab will introduce advertisements to cover the app's expenses.

Kik Interactive recently was sued by the U.S. Securities and Exchange Commission for allegedly failing to properly register an initial coin offering for its Kin cryptocurrency.

Read more from CNN Business.

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