Kavin Bharti Mittal, founding father of tech startup Hike and son of Bharti Airtel chairman Sunil Bharti Mittal, has introduced the entire shutdown of his firm after 13 years.
The resolution comes within the wake of India’s nationwide ban on real-money gaming (RMG), a sector Hike had pivoted into lately after shifting away from its unique messaging platform.
Confirming the closure in a Substack put up, Mittal wrote, “After regrouping with our buyers and the crew, I’ve made the tough resolution to wind down Hike fully.”
Once positioned as India’s reply to WhatsApp, Hike Messenger struggled to retain customers amid stiff competitors. In 2021, it pivoted towards on-line gaming with its RMG platform, searching for to seize India’s fast-growing digital leisure market.
However, the federal government’s blanket ban on RMG earlier this 12 months dealt a ultimate blow to the corporate’s prospects. Mittal described the transfer to close down operations as a “robust however inevitable name.” At its peak, Hike was valued at over $1 billion and counted world buyers similar to Tencent and SoftBank.
