"Initially launched as an instant messaging app rivaling WhatsApp in 2012, Hike pivoted to real-money gaming in recent years, with its primary platform, Rush, offering casual games like carrom and ludo for cash prizes, following the shutdown of Hike Messenger in 2021. Rush attracted over 10 million users and generated more than $500 million in gross revenue over its four-year run, Mittal said."
"Last month, the Indian government shocked the $23-billion real-money gaming industry by introducing the Promotion and Regulation of Online Gaming Act, 2025, which imposed a blanket ban on such platforms. The federal government said the decision was aimed at addressing incidents of harm, including cases where individuals reportedly died by suicide after losing money in these games. In response, top industry players including Dream Sports and Mobile Premier League (MPL) began shutting down their real-money gaming operations in India."
Hike, once valued at $1.4 billion and backed by Tiger Global, SoftBank, and Tencent, has shut down after New Delhi's ban on real-money gaming. The company pivoted from instant messaging to real-money gaming with Rush, which attracted over 10 million users and generated more than $500 million in gross revenue across four years. Founder Kavin Bharti Mittal said the U.S. business showed promise but scaling globally would require a costly recapitalization that was not worth pursuing. The Promotion and Regulation of Online Gaming Act, 2025 imposed a blanket ban to address harms including reported suicides. Industry peers have also begun winding down operations or pivoting.
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