Tech
Hike to shut operations; Kavin Bharti Mittal says global reset not best use of capital
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Kavin Bharti Mittal, founder and CEO of Hike, has announced that the 13-year-old startup will shut down completely in the aftermath of the government’s recent ban on real money gaming.
In a note posted on publishing platform Substack, Mittal said the decision was taken after regrouping with investors and the team. “Our US business, launched just nine months ago, is off to a strong start. But after the India ban, scaling globally would require a full recap, a reset that is not the best use of capital or time,” he wrote.
The company counted marquee…
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