Hike, which began as a messaging app to challenge WhatsApp, is shutting down after 13 years. The closure comes due to the financial impact of the Indian government’s restrictions on real-money gaming, which significantly affected Hike’s business model. The company’s real money gaming business had shown promise with a quickly growing user base, but the new regulations made it unsustainable. Founder Kavin Mittal has announced the closure, explaining that the company’s operations, including the US business, would cease. Funds remaining will be used to settle liabilities and return money to investors.
