Hike, the messaging app that aimed to rival WhatsApp, is shutting down after 13 years of operation. The primary reason cited for the closure is the Indian government’s ban on real-money gaming. Despite initial success in the gaming sector and building a large user base, financial constraints from the restrictions proved unsustainable. Kavin Mittal, the founder, has announced the closure, including the US business. The remaining funds, approximately $4 million, will be used to cover vendor costs, employee salaries, and return funds to investors.
Hike App’s Demise: Real-Money Gaming Restrictions Lead to Closure
Tech 1 Min Read
