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Hike Shuts Down Amid Real-Money Gaming Ban

9/14/2025

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Summary

Story summary

Hike, a former leading Indian startup, is shutting down due to a government ban on real-money gaming (RMG).
Founder Kavin Bharti Mittal cited regulatory challenges and financial constraints as reasons for the closure.
The company, which shifted from messaging to gaming, earned over $500 million through its Rush platform.
The ban cut Hike's financial runway from seven months to four, hindering global expansion.
Mittal intends to pursue opportunities in AI and energy after Hike's closure.

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Story summary

Hike, a former leading Indian startup, is shutting down due to a government ban on real-money gaming (RMG).
Founder Kavin Bharti Mittal cited regulatory challenges and financial constraints as reasons for the closure.
The company, which shifted from messaging to gaming, earned over $500 million through its Rush platform.
The ban cut Hike's financial runway from seven months to four, hindering global expansion.
Mittal intends to pursue opportunities in AI and energy after Hike's closure.