This is not like other ICO's, some refer to it as a reverse ICO - an established company looking to raise revenue without going through the standard venture capital routes.  KIK has an established messenger app with over 300M registered users and 15M active users.  They are far off from competing with the most popular messenger apps and could never expect to overtake them.  As a result, they are issuing a token to raise funds and differentiate themselves.  This could be big or could flame out.  The bottom line to me is that they are a real company with real users and real customers.  Their established platform could make them one of the survivors of all this hype and integrating P2P payment within their messenger app has real potential.  I'm in for the long run on this one but WTFDIK!