Kik acquires Rounds Entertainment

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By Ted Liu

Kik Interactive has acquired Rounds Entertainment LTD., a Tel Aviv, Israel based developer of video chat platform. Financial terms were not disclosed. Kik has reportedly paid between US $60 to 80 million (all figures in US dollar).

Founded in 2008 by CEO Dany Fishel and COO Ilan Leibovich, Rounds has raised $24 million from investors including Sequoia, Samsung Ventures, Rhodium, Verizon, and private investors.

Kik has raised over $120 million from backers including Tencent, Valiant Capital Partners, Millennium Technology Value Partners, SV Angel, Foundation Capital, RRE Ventures, Spark Capital, and Union Square Ventures.

photo credit: Rounds