TechCrunch Startup News Hike, once a unicorn, shuts down as India cracks down on real-money gaming
Sep 15, 2025
Discover the rise and fall of Hike, originally a messaging app that pivoted to real-money gaming. The podcast discusses the challenges faced by Hike as it navigated regulatory hurdles in India. Learn how its gaming platform, Rush, attracted millions of users and generated substantial revenue. The episode highlights the broader impact of government regulations on the gaming industry, including the fallout of layoffs and strategic shifts within the sector.
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From Messenger To Gaming Success
- Hike started as a 2012 WhatsApp rival and later pivoted to real-money gaming after shutting Hike Messenger in 2021.
- The gaming app Rush drew over 10 million users and generated $500M+ in gross revenue across four years.
Weigh The Cost Before A Global Recap
- Kavin Bharti Mittal chose not to pursue a costly global reset despite US traction, prioritizing capital efficiency.
- Founders should weigh whether raising funds for a risky pivot is truly worth the effort for team and investors.
Regulatory Shock To An Industry
- India's Promotion and Regulation of Online Gaming Act 2025 imposed a blanket ban on real-money gaming platforms nationwide.
- The law aimed to address harm, including reported suicides tied to losses on these platforms.