Kavin Bharti Mittal, the founder and CEO of Hike, has announced that the company will be shutting down after a 13-year journey that saw the startup pivot from messaging to gaming and Web3 experiments.
In a reflective note to users on LinkedIn, investors, and employees, Mittal admitted the decision was “difficult but necessary” after regrouping with stakeholders. Hike’s US business, launched just nine months ago, had shown promise, but scaling globally after India’s regulatory ban on real money gaming (RMG) would require a full reset. “The real question is: is it worth it? For the first time in 13 years, my answer is no,” he wrote.
At its peak, Hike Messenger had 40 million monthly active users and was once ranked among India’s most loved consumer brands. Later, its gaming product Rush scaled to 10 million users and more than $500 million in gross revenue within four years. Yet, despite strong execution, Mittal conceded the company could not “make it stick,” pointing to market dynamics and regulatory uncertainty.
Among the lessons he highlighted: avoid winner-take-all markets without global scale, build for emerging technological paradigms, and recognize that regulatory clarity is non-negotiable.
Looking ahead, Mittal said his energy will be directed at three transformative frontiers: artificial intelligence, breakthroughs in energy, and mastery of the self. He envisions a future where intelligence, energy, and willpower become abundant resources, opening up entirely new possibilities for humanity.
“This chapter ends, but the climb continues,” he wrote, thanking Hike’s users, investors, and his team for their support.