Kavin Bharti Mittal Shuts Down Hike After India’s RMG Ban
From Messaging to Real-Money Gaming
Founded in 2012, Hike gained popularity as an Indian alternative to WhatsApp, reaching over 40 million active users. However, in 2021 the company shut down its messaging app and shifted focus to gaming through Rush, a platform offering 14 skill-based money games integrated with Web3 features. The move initially brought success, with Rush scaling to over $500 million in gross revenue and more than 10 million players.
But India’s recent gaming law, which bans online money games involving user deposits with the expectation of winnings, has forced Mittal to wind down operations.
“Difficult Decision, Bright Future”
“After regrouping with our investors and the team, I’ve made the difficult decision to wind down Hike completely,” Mittal wrote in a Substack post. He explained that while Hike’s U.S. business was performing well, scaling globally after the India setback would require a complete reset, which was not a viable option.
Despite the closure, Mittal expressed optimism: “This is both a disappointment and a hard outcome. But I choose to look on the bright side: the learnings are invaluable, and my conviction for what’s next is even stronger.”
Backing and Global Presence
Hike was supported by marquee investors including SoftBank, Tencent, Tiger Global, Bharti, Foxconn, Jump Crypto, Tribe Capital, Republic, and Polygon. Individual investors included Rajeev Misra (former SoftBank Vision Fund co-chief), Elad Gil, and Zynga founder Mark Pincus. The company employed around 100 people, organized as small “SWAT teams” across India, the U.S., Dubai, and Singapore.
Regulatory Hurdles
Mittal admitted that starting with real-money gaming in India created regulatory constraints. “RMG was never the destination—it was a way to test unit economics and traction. But the regulatory headwinds turned a temporary path into a permanent one,” he noted. He added that while the vision of a “Gaming Nation” remains strong, it may be ahead of its time given global uncertainty in crypto regulation.
Shift Toward AI and Energy
Looking ahead, Mittal revealed plans to focus on artificial intelligence, breakthroughs in energy, and personal growth. “For the first time, technology has both intelligence and memory. Imagine products that adapt, grow, and partner with us. As a UX-first builder, this is the most exciting time to be creating software,” he said. He emphasized ambitions to contribute to a future with “infinite willpower, abundant energy, and intelligence at our fingertips.”
Industry Impact
Hike’s closure comes amid widespread layoffs across India’s gaming sector following the ban. Companies like Mobile Premier League (MPL), Games24x7, Baazi Games, Head Digital Works, and Zupee have downsized significantly, highlighting the broader disruption caused by the policy.
