Hike Shuts Global Operations After India Real-Money Gaming Ban

Hike, once a leading Indian startup valued at $1.4 billion, has announced its complete shutdown after 13 years, citing the Indian government's recent ban on real-money gaming (RMG) as a critical factor. Founder Kavin Bharti Mittal explained that while Hike's U.S. business showed promising early growth, scaling it globally post-ban would require a costly reset not justified by potential returns. The Promotion and Regulation of Online Gaming Act, 2025, which aims to curb addiction and financial fraud, led to immediate shutdowns by major RMG players in India and severely impacted Hike's operations. Initially launched as a messaging app competing with WhatsApp, Hike pivoted to gaming with its platform Rush, attracting over 10 million users and generating $500 million in revenue. Mittal emphasized that RMG was a test of unit economics and traction, not the company's ultimate goal, but regulatory hurdles and market fatigue forced the decision to wind down. Remaining funds will cover employee severance and vendor dues, with any surplus returned to investors, while Mittal plans to explore new ventures in AI, energy, and personal growth.