Tencent invests $50m in Canada's Kik Interactive

Mobile messaging firm's chief says both have 'shared vision' Tencent Holdings Ltd has underlined its overseas ambitions with another substantial investment.

Canadian instant messaging service provider Kik Interactive said on Wednesday it had received a $50 million investment from the Chinese Internet company, which pushes Kik's value to more than $1 billion.

Ted Livingston, Kik's founder and chief executive officer, said the firm, whose chat platform is popular with teenagers, will use the cash to hire more people at its Waterloo, Ontario headquarters, and to develop a chat-based ecosystem.