Once one of India’s most valuable startups, the hike has become the latest casualty of the recent real estate game ban in New Delhi, led by Kavin Bharti Mittal, son of Airtel founder Sunil Bharti Mittal, and is now closed.
Hike founder Mittal (pictured above) said on Saturday that the startup’s U.S. business started nine months ago and he “had a good start.” But he said expanding it globally requires a “full review, which is not the best use of capital or time reset”.
initial Startup as an instant messaging application matching WhatsApp 2012, Hiking Turn to real estate games Mittal said in recent years, with its main platform Rush, it has offered casual games like Carrom and Ludo after shutting down Messenger in 2021. Rush attracted more than 10 million users and earned over $500 million in total revenue over its four-year period.
Including Tiger Global, Softbank and Tencent support for Hike’s ambitious investors, early ambitions to get along with a teen-centric messaging app. This startup is Valued at $1.4 billion 2016.
“We can raise funds, but the real question is: is this worth it? Is this worth the climb?” Mital Write In alternative posts. “This is the first time in 13 years, and my answer is no. Not for me, not for my team, not for our investors.”
Last month, the Indian government shocked $23 billion in real estate gaming industry introduce Promotion and regulation of the Online Game Act in 2025, Blanket ban imposed On such a platform. The federal government said the decision was designed to address harmful incidents, including the reported death of individuals after losing money in these games.
In response, top industry players including Dream Sports and Mobile Super League (MPL) have begun closing down real-life gaming operations in India. Some people start to pivot, e.g. Miniaturized drama and Financial Servicesothers began to explore international markets to maintain a part of their gaming business.
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The crackdown also triggered a wave of layoffs, such as Games24x7,,,,, Head digital works,,,,, Mpland Zupee. Sources told TechCrunch that some of them plan to reduce their workforce by 90% when trying to adapt or exit the space.
Sources familiar with the conversation told TechCrunch that some venture capital firms that support these startups also questioned whether their founders showed any early signs of regulatory action and, if so, why nothing was done to mitigate the impact.
Earlier this week, the Supreme Court of India Transfer all challenging petitions New laws (rules pending notice) in courts across the country. However, the Supreme Court has not yet begun the trial of the matter.
“It was both a disappointing and a difficult outcome,” Mittal wrote. “But I chose to look at the bright side: this knowledge is priceless and my belief in the next step is stronger.”
