Flipkart Co-Founder Binny Bansal, Founder of Cred Kunal Shah, Co-Founder of Zeta and Titan Bhavin Turakhia, Co-Founders of Snapdeal Kunal Bahl and Rohit Kumar Bansal and South Park Commons Partner in Residence Aditya Agarwal also participated in the tour. table. The size of the round was not disclosed, however.
Hike plans to use the fundraising cycle to expand its product strategy and hire talent in different functions at the intersection of social media, gaming and crypto. The company currently has a team of over 160 employees in 50 cities.
“Rapid technological change over the past few years has paved the way for massive social and gaming disruption. There isn’t much to separate these two categories. Gaming is now inherently social, evolving into a new way for people to get out and interact in the virtual world, ”said Hike founder Kavin Bharti Mittal.
This fundraiser comes after Hike shut down its local messaging app Hike Sticker Chat in January this year to focus on social products such as a virtual dating platform Vibe (formerly Hikeland) and the gaming service. mobile Rush.
The chat app, which debuted as Hike Messenger in December 2012, positioned itself as India’s house answer to WhatsApp and Facebook Messenger, had around 100 million registered users as of August. 2016. It was rebranded as Hike Sticker Chat with a sticker-centric experience in April 2019. The company also counts SoftBank, Tencent, Foxconn and Tiger Global among its investors and has raised over $ 260 million so far.
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Its last fundraiser was in August 2016, when the company raised $ 175 million, led by Tencent and Foxconn, for a valuation of $ 1.4 billion. Mittal is the son of Sunil Bharti Mittal, Chairman of Bharti Enterprises, the holding company of Bharti Airtel, India’s second largest telecommunications company.