Hike, once celebrated as one of India’s most valuable startups, has announced its shutdown following the federal government’s recent ban on real-money gaming platforms. The company, led by Kavin Bharti Mittal, son of Airtel founder Sunil Bharti Mittal, had pivoted from instant messaging to gaming after closing Hike Messenger in 2021. Its flagship gaming app, Rush, attracted over 10 million users and generated $500 million in gross revenue before operations were halted.
Mittal said in a statement that while Hike’s U.S. business, launched nine months ago, showed promising growth, scaling globally would require a major reset that was “not the best use of capital or time.” The founder, who had previously secured investments from global giants like Tiger Global, SoftBank, and Tencent, admitted that for the first time in 13 years he did not see the climb as worthwhile for himself, his team, or investors.
The shutdown follows India’s introduction of the Promotion and Regulation of Online Gaming Act, 2025, which imposed a nationwide ban on real-money gaming to curb financial harm and related suicides. The $23-billion industry has been shaken, with leading platforms like Dream Sports and MPL also closing their gaming divisions or pivoting to alternative ventures. The crackdown has triggered widespread layoffs, with up to 2,000 jobs already lost and deeper cuts anticipated across multiple firms.
Investors have expressed concerns over whether founders ignored early signs of regulatory action, while the Indian Supreme Court has moved to consolidate all legal challenges against the new law. For Mittal, the closure of Hike marks the end of a long entrepreneurial chapter, but he emphasized that the experience had provided invaluable lessons and strengthened his resolve for future ventures.