Kavin Bharti Mittal: It’s never easy to close the doors on something you’ve built with passion and persistence. For Kavin Bharti Mittal, founder of Hike and son of Bharti Airtel chairman Sunil Bharti Mittal, the decision to shut down his startup after 13 years was nothing short of heartbreaking. In a heartfelt note to investors and the team, he wrote, “After regrouping with our investors and the team, I’ve made the difficult decision to wind down Hike completely.”
From Messaging Glory to Gaming Ambitions
Hike wasn’t just any startup. When it launched in 2012, it was India’s answer to WhatsApp, capturing the imagination of millions with its stickers and features tailored for Indian users. At its peak, Hike boasted over 40 million monthly active users and was seen as one of India’s most promising homegrown apps.
But the tides of consumer preference shifted. The messaging app was officially shut down in 2021, forcing Mittal and his team to pivot. Their next big idea was Rush, a real money gaming platform with more than 14 mobile games that allowed players to win cash rewards. Embracing Web3 elements such as digital ownership and play to earn mechanics, Rush quickly found traction, generating over $500 million in gross revenue and paying out nearly $480 million in winnings annually.
The Ban That Changed Everything
Just as Rush began gaining momentum, India introduced sweeping regulations banning real-money gaming involving cash deposits. This single move was devastating. Hike’s entire strategy had been to refine its model in India before expanding globally. The ban meant starting from scratch something Mittal admitted wasn’t worth the time or resources.
Even though Hike had already launched operations in the U.S. and was seeing encouraging results, the uncertainty in India proved too strong a headwind. With nearly 100 employees across India, the U.S., Dubai, and Singapore, the company’s global ambitions came to a halt.
Investors and Industry Shaken
Hike wasn’t just another startup; it had the backing of some of the world’s most powerful investors. SoftBank, Tencent, Tiger Global, Foxconn, Polygon, and Tribe Capital all believed in its vision. Individual investors included Elad Gil and Zynga founder Mark Pincus.
Yet, Hike’s story isn’t unique. India’s real-money gaming ban has triggered layoffs and shutdowns across the industry. Giants like MPL, Games24x7, Zupee, and Baazi Games have all faced the heat, highlighting how regulatory uncertainty can derail even the most promising ventures.
What’s Next for Kavin Bharti Mittal?
Despite the closure, Kavin Bharti Mittal isn’t giving up on innovation. He has already set his sights on the future, with interests in artificial intelligence, clean energy, and human potential. He believes the next wave of software will be transformative: “For the first time, technology has both intelligence and memory. Imagine systems that adapt and grow with us this is the most exciting time to be building software.”
For him, Hike’s end isn’t just a conclusion it’s a chapter filled with invaluable lessons that will shape his next ventures.
A Bittersweet Ending
Hike’s shutdown is a reminder of how fragile the startup ecosystem can be in the face of unpredictable regulations. It’s both a story of innovation and resilience, but also of how timing and environment can define a company’s fate. While Hike’s journey ends here, Kavin Bharti Mittal’s determination to create the future ensures his story is far from over.
Disclaimer: This article is based on publicly available information and statements. It has been rewritten in original words for storytelling and informational purposes only.
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