Business, Investments, News

Soon, messaging app Hike will raise USD 14 M


BSB backed instant messaging service, Hike will soon be grabbing its second investment of USD 14 million in series, reports TOI. The funding aims at scaling up the company’s operations in order to capitalize on increasing opportunities in mobile.

In lines with previous USD 7 million funding in April 2013, this round will also be led by Bharti Soft Bank (BSB), which is a joint venture between India’s Bharti enterprises and Japan based Softbank.

Hike was launched in December 2012 by Kavin Bharti Mittal, the son of Telecom Giant Sunil Bharti Mittal. It comes along with the USP of allowing its users to  send free messages to their friends and family even if they are not having Hike app. The app is available globally for Blackberry beta along with iOS, Android, WP & S40.

Soon after the launch, the app became quite popular in Indian market as 60% of its user base comes from India and the rest global led by Middle East and Europe. In mid 2013, the app crossed 5 million user base and was reportedly aiming to touch 10 million active users before planning the monetization road map.

Hike currently competes with messaging apps like Line (17 million active users in India), WeChat, Mxit and Whatsapp .

Among the other social media platforms, Facebook is still leading with 1.2 billion users globally. It is then followed by Whatsapp (450 million), LinkedIn (260 million) and Twitter (241).

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