Hike, the instant messaging app that later pivoted to a gaming platform, has become the latest casualty of India’s stringent crackdown on the real-money gaming (RMG) sector. Announcing the closure on September 13, 2025, founder Kavin Bharti Mittal, son of telecom mogul Sunil Bharti Mittal, confirmed that the company will cease all operations.
“We could raise capital, but the real question is: is it worth it? Is this a climb worth pivoting for? For the first time in 13 years, my answer is no—not for me, not for my team, and not for our investors,” Mittal wrote in a blog post. “This is both a disappointment and a hard outcome. But I choose to look on the bright side: the learnings are invaluable, and my conviction for what’s next is even stronger.”
Hike was originally launched in 2012 as a challenger to WhatsApp, aiming to attract younger users with a feature-rich messaging app. It amassed over 40 million monthly active users and, at its peak, was ranked the 35th most loved consumer brand in India. With backing from prominent investors like Tiger Global, SoftBank, and Tencent, the company achieved unicorn status in 2016 with a valuation of $1.4 billion. However, rising competition from global players and shifting user behavior forced Hike to sunset its messaging service in 2021.
In 2022, Hike re-entered the market with Rush, a gaming platform where users played casual games such as carrom and ludo for cash prizes. The venture was designed to test traction and unit economics in the Indian market while keeping the long-term vision broader. Over four years, Rush attracted over 10 million users and generated more than $500 million in gross revenue.
However, the introduction of the Promotion and Regulation of Online Gaming Act, 2025, spelled doom for Hike’s business model. The new legislation imposed a blanket ban on all forms of online money games—whether skill-based or chance-based—citing addiction, social fallout, and national security concerns. It carved out esports and subscription-based social games, but these areas weren’t aligned with Hike’s revenue streams. Several other players, including Dream11, Winzo, and Zupee, also exited the RMG space or diversified into areas like micro-dramas and financial services.
While Hike’s expansion into the U.S. market showed promise, Mittal acknowledged that scaling globally would require substantial reinvestment and restructuring—a move he deemed neither capital-efficient nor strategically worthwhile. “Scaling globally would require a full recap, a reset that is not the best use of capital or time,” he remarked.
Reflecting on the journey, Mittal encouraged entrepreneurs to steer clear of winner-take-all markets, build for emerging tech cycles, and seek regulatory clarity early on. “The world will eventually move toward a Nation-type model in gaming and Web3—Company 2.0. But crypto regulation is still developing globally, and we don’t want to repeat India, where we hoped for clarity that never came.”
Looking ahead, Mittal pointed to artificial intelligence and energy innovation as promising avenues for future ventures, signaling that the lessons learned from Hike’s rise and fall will inform the next phase of entrepreneurial exploration. Despite the setback, he remains optimistic about building new ventures in a more stable regulatory environment.
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