Homegrown messenger, Hike which recently topped the app store charts has secured a massive $65mn funding round led by Tiger Global and followed by Bharti SoftBank.
Hike claims to have 35 Million Users (the company added 15M users in just 2 months) out of which 50% users are active every month. The last fund raise was done in April 2014 ($14mn from BSB)
hike which has 90% Indian user base (80% under the age of 25) is handling over 10 Billion messages per month and over 3 Billion stickers per month. Competitor WhatsApp has 65 million users in India.
Lee Fixel of Tiger Global Management will join hike’s board.
“Hike’s grasp and understanding of the Indian market was apparent from the time we first met. The company’s incredible traction, the rapid pace at which its team operates and its sharp focus are compelling. Kavin and his team have built India’s fastest growing mobile app and have an ambitious vision of bringing India’s one billion potential mobile Internet users online through their messaging platform. I’m excited to join the board as we continue growing rapidly in the months ahead.” [Lee Fixel]
- Dec, 2012: Global launch
- Feb 2013: Messaging traffic grows 10X week on week
- April 2013: Hits the first 5M user milestone in just 4 months of its launch | Raised $7M from BSB
- June 2013: Stickers are on hike!
- Aug 2013: Digital ad campaign goes live
- Nov 2013: Co-creation exercise with users – including real-time feedback from the users for product development
- Dec 2013: Hike turns 1 year old! Launches two-way Chat Themes
- Feb 2014: Hit the 15M user mark
- April 2014: Receives $14M fresh funding from BSB
- June 2014: Crossed 20M user mark, launched TVC
- July 2014: Hit #1 rank on App stores
- August 2014: Crosses 35M user mark, receives $65M fresh funding led by Tiger Global
Is Hike India’s first mobile-internet growth story?