With 35M Registered Users, Indian Messaging App Hike Raises $65M  From Tiger Global, BSB

Home-grown messaging app, Hike with 35 M registered users, has raised $65 million from Tiger Global, with participation from BSB

Messaging apps are still holding the flavor of users. Just when the world’s leading messaging app WhatsApp announced that it is now serving more than 600M active users every month, home grown Hike has some big announcements on raising funding.

Talking to Medianama, Hike CEO Kavin Bharti Mittal has officially confirmed the company’s new round of funding and has also shared the latest numbers. According to Kavin, Hike has now more than 35 million registered users with over 50% active every month (17.5M monthly active users globally). Around 90% (16M monthly active users) are from India of which over 80% of users are below 25 years.

Additionally Kavin confirmed that the messaging company backed by Bharti Soft Bank, a joint venture between Bharti Enterprises and Japanese operator SoftBank, has raised $65 million from Tiger Global, with participation from BSB.

Talking to ET, he said that the company will use the funds for product development and marketing, apart from hiring best industry talent and grow its team from the current number of 100 people.

In the month of June, Hike had announced that it has crossed 20 million registered users, though during that time the company had stayed away from revealing active users. Thereafter Hike, which also likes to call itself the “youth messaging app”, had invested in marketing efforts by launching its first TVC like other competing messaging apps in the country.

Hike had launched its first TVC taglined ‘Hike up your life’, in which the messaging app tries to convince the youth to ‘Switch to Hike, no more Whatscrap’! The creative was a cheeky take on WhatsApp which is still the leading messaging app in the country.

Hike has also worked on building localised features such as ‘Hike Offline’, that allows one to stay connected with friends even when they’re offline, file sharing features for files upto 100MB, among others.

The app is now aiming to reach 100 million registered users within the next 18 months, states the young CEO to TNW.