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Kiki Secures $7M Fund from a16z Crypto and Others

  • Addressing customer loyalty in Web 2.0, Kiki aims to solve loyalty issues by involving community.
  • a16z invested after Kiki graduated from a crypto startup accelerator.
  • Kiki offers five product lines, including the nail polish pen.

A Los Angeles-based business known as Kiki World just said last week that it secured a $7 million early fund participation from Andreessen Horowitz crypto, The Estée Lauder Companies’ New Incubation Venture, and others like OrangeDao, 2punks’ capital, and others. Even customer loyalty can be perceived as a problem in the modern era of Web 2.0. Jana Bobosikova, the co-founder of Kiki, admitted this. She offered that people often recommend products to their 'friends' on social media and later are targeted with more relevant ads. Kiki is creating a platform where the community members can vote on product features before it is created. Voters will get token products and digital tokens free of charge as they are rewarded for doing so. a16z followed on with the investment after Kiki graduated from the crypto startup accelerator program which took 10 weeks. a16z is not the only backer of Kiki which uses blockchain tech to reward consumers. Last year the company acted as a lead in a $24 million Series A round of funding for Blackbird Labs, an innovative hospitality tech company that designed a loyalty program encouraging guests to have meals in independent restaurants. Kiki is offering five product lines along with the nail polish pen. The client takes part in voting for the next Kiki color choice.

Edited by Shruti Thapa