Get the latest news & updates on Hike in India’s startup ecosystem. Stay ahead with the latest news, funding & acquisition alerts, financials and business updates about Hike

28% GST Shakes Hike’s Boat: Gaming Startup Lays Off 100 Employees

28% GST Shakes Hike’s Boat: Gaming Startup Trims 22% Workforce

Web3 gaming startup Hike has become the newest casualty of the union…
Hike Posts 107X Jump In Operating Revenue In FY22 After Pivot To Gaming; Loss Narrows 7%
Crypto, Virtual Currencies Likely To Attract 28% GST Soon: Reports

Crypto, Virtual Currencies Likely To Attract 28% GST Soon

The Goods and Service Tax (GST) Council is…
Hike Secures Investment To Build Its Web3 Gaming Platform ‘Rush Gaming Universe’

Hike Secures Investment To Build Its Web3 Gaming Platform ‘Rush Gaming...

Social media platform, Hike has raised an undisclosed…
Crypto India Economy
Social media platform HIke has raised an undisclosed amount of investment from iconic investors. Kavin Bharti Mittal, chief executive officer, announced that Hike has raised investments from Tinder cofounders Sean Rad and Justin Mateen, Softbank Vision Fund CEO Rajeev Mishra, Tribe Capital’s Arjun Sethi and others. The fresh round also brought founders of newly emerged unicorn startups such as Bhavin Turakhia and Kunal Bahl. Kunal Bahl and Binny Bansal also infused capital in the round. As per Mittal, Hike will utilise the capital to build platforms that will enable people to express themselves online through competition and interaction. The platform will further utilise the capital to hire talent from different sectors such as cryptocurrency, gaming and social media platforms. “The rapid technological evolution over the last few years has paved the way for massive disruption in social & gaming. There’s little to separate these 2 categories,” he wrote on Twitter announcing the investment. The round comes months after Hike shut down its flagship product HikeSticker Chat amidst WhatsApp contentious privacy policy. At the start of the year Mittal announced the launch of Rush – a new gaming service – and renamed Hikeland as Vibe. Hikeland was a mobile-first virtual world launched in 2020. Once seen as an Indian alternative to WhatsApp, Hike has over the years tried to offer various services such as wallet, Hikemoji, Hikeland, cricket scores, horoscope, among others to grab the market. However, WhatsApp’s simpler offering coupled with smooth use r experience prevented the majority of users from switching to Hike. Mittal, who is the son of billionaire Sunil Bharti Mittal, chairman of Bharti Enterprises, founded Hike in 2012. The startup enjoyed the support of marquee investors such as Foxconn, Tiger Global, SoftBank. The startup even joined the prestigious unicorn club after receiving investment worth $175 Mn in 2016. During that time, Hike boasted of having 100 Mn users of which 90% were from India. Majority of Hike’s users belonged to the age group of 15 and 24. Hike, which had invested in Indian gaming platform WinZo, received a four-fold return after it exited the company with $12 Mn this year. Hike participated in WinZo’s $5 Mn Series A investment along with Kalaari Capital.

Hike Receives Investment From Tinder Cofounders & Other Marquee Invest...

Social media platform Hike has raised an undisclosed…

Winzo Gives Hike 4X Return After $13 Mn Series B Funding

Vernacular social gaming platform WinZO has given a…
[What The Financial] Will Focus On Gaming Change Hike’s Fortunes After Just INR 13K Revenue In FY20?
As Telcos Push For Higher ARPU, India No Longer Has The World’s Cheapest Mobile Data Plans
UPI Regains Momentum With 19% Hike In Transactions In March 2021

UPI Regains Momentum With 19% Hike In Transactions In March 2021

The unified payments interface (UPI) is back to…
hike sticker chat shutdown, focus on vibe rush, gaming social media

From Super App To Shutdown: Hike Gives Up On Chat App In Yet Another R...

“India won’t have its own messenger,” Hike CEO…
Hike Looks To Marry Social & Gaming In Virtual Hangout Space HikeLand

Hike Adds Gaming To HikeLand, But Will Its Latest Revenue ‘Experiment’...

Hike, the New Delhi-headquartered unicorn which came to…

Stories that matter in Indian tech, in your inbox!

My inc42

Your Personalised Access To India's Tech & Startup Economy


You've just followed your first industry and unlocked your personalised experience with My Inc42.

Consumer Internet
Electric Vehicles
Startup Ecosystem