Messenger app Kik was valued at $1 billion in 2015. Now it's shutting down.

Ted Livingston.
(Image credit: Noam Galai/Getty Images)

Kik is pivoting.

The tech "unicorn" will shut down its messaging app to focus on its cryptocurrency, Kin, CEO Ted Livingston announced in a Medium post Monday afternoon.

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Taylor Watson

Taylor Watson is audience engagement editor for TheWeek.com and a former editorial assistant. She graduated from Syracuse University, with a major in magazine journalism and minors in food studies and nutrition. Taylor has previously written for Runner's World, Vice, and more.