Ram Kumar 
Kavin Bharti Mittal, the founder of tech startup Hike, has officially announced the complete shutdown of the company after a 13-year journey. The decision was primarily driven by the recent regulatory ban on real-money gaming (RMG) in India, which made its primary business model unviable.
From Messaging to Gaming to Exit
Hike, launched in 2012, gained prominence as a homegrown messaging app, aiming to compete with WhatsApp. At its peak, it had over 100 million users and attracted significant investments. However, due to intense competition and the dominance of global giants, the messaging app was shut down in January 2021.
The company then pivoted to a new venture, launching Rush by Hike, a real-money gaming and social platform. Despite scaling the platform to 10 million users and generating over $500 million in gross revenue in four years, the business faced a fatal blow. The Indian government’s recent blanket ban on RMG fundamentally undermined its future prospects, forcing the decision to shut down completely.
Kavin Bharti Mittal’s Statement
In a public statement confirming the closure, Mittal reflected on the challenging journey. “The India ban on RMG has made a global reset too costly and not the best use of capital or time,” he wrote. He also noted that even with a promising US business, the regulatory uncertainty made continuing operations too difficult.
Impact on India’s Startup Ecosystem
The shutdown marks the end of a company that once symbolized India’s ambition to build a major consumer tech product. While Hike could not survive the combined pressures of competition and regulatory hurdles, its journey from a messaging app to a high-revenue gaming platform offers key lessons. Industry analysts note that Hike’s bold pivots and eventual shutdown highlight the critical importance of a stable regulatory environment for startups.
What’s Next for Mittal?
Kavin Bharti Mittal has not yet disclosed his next move but hinted at exploring new opportunities in three key areas: artificial intelligence (AI), breakthroughs in energy, and mastery of the self. Given his track record and industry connections, the startup ecosystem will be closely watching his next venture.
Disclaimer:- The information in this article is based on public statements from Hike founder Kavin Bharti Mittal and reports from reputable news sources. While we have made every effort to ensure the accuracy of the details, including the timeline of the company’s pivots and the reasons for its shutdown, this content is for general informational purposes only. The views expressed by industry analysts and the founder are their own and do not represent a professional endorsement or legal opinion. Readers are encouraged to verify this information with official sources.
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