Reported about 16 hours ago
Hike, an Indian startup that once reached a valuation of $1.4 billion, has shut down following India's recent ban on real-money gaming. Founded by Kavin Bharti Mittal, the company transitioned from an instant messaging app to a gaming platform, Rush, which attracted over 10 million users. The ban, part of the Promotion and Regulation of Online Gaming Act, 2025, has affected the broader gaming industry, leading to significant layoffs and other companies abandoning similar operations in the country.
Source: YAHOO