TMCnet News

HIKE GETS $65 MILLION FROM TIGER GLOBAL, OTHERS
[August 28, 2014]

HIKE GETS $65 MILLION FROM TIGER GLOBAL, OTHERS


(Indian Business Insight Via Acquire Media NewsEdge) Kavin Bharti Mittal, the son of Bharti Airtel chairman Sunil Mittal, has raised money from foreign investors led by Tiger Global of New York for India's only homebred instant messenger app, Hike. Hike is backed by Bharti Softbank, a joint venture between Bharti Enterprises and telecom company Softbank Corp of Japan. Tiger Global has been given a minority stake in Hike, while Bharti Softbank has contributed a small part of the $65 million funding. Hike will use the funds to expand its team from 100 people now and will continue to focus on developing innovative features to bridge the existing gaps in the messaging market in India.



[ Back To TMCnet.com's Homepage ]