Hike Messaging App: Goodbye! This app that competes with WhatsApp is going to be shut down after 13 years..

Hike Shutdown: Hike, the messaging and gaming app that came to compete with WhatsApp 13 years ago, made a lot of headlines, but now this app is going to be shut down forever. The app's founder, Kavin Mittal, has informed investors in an email that Hike is shutting down completely, including the US business. Let's know the reason for shutting down this app that competes with WhatsApp.

Hike App Shutdown: What is the reason?

The email cites India's decision to ban real money gaming. The email seen by Entrackr reads that I have decided to completely stop operating Hike. The company's new gaming business became very successful in a very short time; in just four years, the company built a large user base. But now the recent ban imposed by the Government of India on real money gaming has also caused a lot of damage to Hike's business model.

According to Kavin Mittal, the company has suffered financial losses due to this new rule. Hike has a new business in the US, which was showing promising results. But after the ban on real money gaming in India, the company's founder has had to make this decision due to financial losses.

Republic's report states that Hike has $4 million (about Rs 35.30 crore) left in its balance sheet. This money will be used to pay vendor costs and employees, after which investors will be returned their money.

How did it start?

Like WhatsApp, Hike started as a messaging app, but it could not compete successfully. This is why the company changed its business to focus on gaming and created a new platform called Rush.

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