Hike, once a unicorn startup in India, has announced its global shutdown, marking the end of a significant chapter in the country’s tech landscape. Founded in 2012 by Kavin Bharti Mittal, Hike initially gained prominence as a messaging app aimed at competing with WhatsApp. However, the company pivoted to real-money gaming with its platform Rush, offering casual games like carrom and ludo with cash prizes. This transition attracted over 10 million users and generated more than $500 million in gross revenue over its four-year run .
Impact of India’s Real-Money Gaming Ban
The Indian government’s recent enactment of the Promotion and Regulation of Online Gaming Act, 2025 has had a profound impact on the real-money gaming industry. The legislation imposes a blanket ban on all online games involving monetary transactions, including fantasy sports and skill-based contests. This regulatory shift has forced companies like Hike to cease operations, as their business models were heavily reliant on real-money gaming.
Kavin Mittal expressed that the new law reduced Hike’s financial runway from seven months to just four, making continued operations unfeasible. In a heartfelt message titled “Closing a Chapter, Opening a New One,” he announced the decision to wind down Hike’s operations globally, including the recently launched U.S. business .
Broader Industry Implications
Hike’s shutdown is part of a larger trend affecting the Indian tech and gaming sectors. Companies like Dream11, Mobile Premier League (MPL), and Games24x7 have also been impacted by the ban, leading to significant layoffs and operational halts . The government’s crackdown aims to address concerns over gambling addiction and financial harm among users, particularly the youth .
The real-money gaming industry, once valued at $23 billion, is now facing a major setback. Companies are exploring alternative markets and business models to adapt to the new regulatory environment.
Despite the challenges, Kavin Mittal remains optimistic about the future. He has hinted at new ventures in areas such as artificial intelligence, clean energy, and human potential. While Hike’s journey has come to an end, Mittal’s vision for innovation continues to inspire the tech community.
