Hike Shuts Down After India Bans Real-Money Gaming
Hike shuts down after India bans real-money gaming, marking the end of its unicorn journey and reshaping the country’s gaming industry.
Matilda
Hike Shuts Down After India Bans Real-Money Gaming Hike Shuts Down After India’s Ban On Real-Money Gaming The end of Hike marks a significant shift in India’s startup ecosystem. Once celebrated as a unicorn, Hike has officially shut down after India’s recent crackdown on real-money gaming. The company, founded by Kavin Bharti Mittal, had previously pivoted from its messaging app roots to focus on gaming with its platform Rush. But with new regulations banning cash-based games, Hike has decided to close operations rather than attempt another costly reset. Image Credits:Anindito Mukherjee / Bloomberg / Getty Images Hike’s Journey From Messaging To Real-Money Gaming Hike began in 2012 as a youth-focused messaging app that aimed to rival global giants. By 2016, it had achieved unicorn status, fueled by major investments and rapid growth. However, facing tough competition, Hike shut down its messenger in 2021 and reinvented itself with Rush, a real-money gaming platform offering popular titles like carrom and ludo. Rush quickly attracted milli…