The messaging-cum-wallet app Hike Messenger has acquired InstaLively Livestreaming and a hyperlocal social networking app Pulse, as first reported by Inc42. The LinkedIn page of InstaLively and Pulse also confirms the development.
The acquisition might be aimed to increase the user base of the acquirer (Hike), which has been stuck at 100 million for the past year, as both companies target the same user base of 15-24 years’ age group. With this acquisition, Pulse technology may help Hike improve its features and stickers offering.
Launched in 2014, the InstaLively platform helps broadcast events live. It is focussed on instant video/audio digitisation on low 3G bandwidths using just a mobile app. This makes it simple and cost-effective for an enterprise to create/broadcast content from any location.
In October 2016, the company also entered the hyperlocal content sharing space and launched Pulse. It is a mobile app which provides users with a full-screen visual streaming experience of colleges around them. Customised stickers make the experience more fun and engaging.
Just after the launch of the platform, Pulse raised $500K in the Pre-Series A funding round led by SAIF Partners.
In March 2015, InstaLively raised over $120k in a round of funding led by a group of investors. This round was led by Google India’s Rajan Anandan; Amit Ranjan (co-founder of Slideshare); Rajesh Sawhney (Founder, GSF Accelerator); and Niraj Singh of Outbox Ventures.
A few months later in July 2015, the company bagged another round led by Anupam Mittal, Founder of People Group; Anand Chandrasekaran; Uday Shankar, Chairman and CEO of Star India; and author Chetan Bhagat.
A few of InstaLively Livestreaming’s marquee clients included the likes of Google, Airtel India, NASSCOM for startups, GSF Accelerator, Meraevents and the Belgian embassy, among others.