Exclusive: Kavin Mittal’s Hike shuts down operations completely

After 13 years of operations, Hike is shutting down completely, including its US business, founder and chief executive officer (CEO) Kavin Mittal informed investors in an email on Saturday.

Mittal said the decision follows the recent ban on real money gaming (RMG) in India, which shortened the company’s runway from seven months to just four months. “After much reflection and speaking with a few of you, I’ve decided to wind down Hike operations completely, including the US,” he wrote.

Entrackr has reviewed the copy of the email.

Soon after the RMG ban in India, Mittal had announced that the company would exit the country to focus on the United States and other global markets such as the United Kingdom, Canada, and Australia. However, the decision to shut down entirely has come as an unexpected move for the gaming industry.

The company, which started as Hike Messenger and pivoted to Rush, scaled to 10 million users and generated $500 million in gross revenue in four years. Despite the growth, Mittal said the challenges of taxes, regulation battles, and the India ban made continuation unviable.

“Is it worth it? For the first time in 13 years of building Hike, my answer is no,” he said, adding that the company may have been too early for its vision of building a gaming nation, while also pointing to better opportunities in AI and other frontier technologies.

According to Mittal, Hike has around $4 million left on its balance sheet, which will be used to settle vendor costs and employee severance. Any leftover funds will be returned to investors.

Mittal acknowledged the fatigue within the broader team after years of pivots and regulatory hurdles. “RMG was never the destination. It was a means to prove unit economics and unlock the bigger vision. But we got locked into the Indian market in a tax/regulation battle,” he said.

Reflecting on the journey, Mittal noted milestones such as Hike Messenger reaching 40 million MAUs and becoming one of India’s most loved consumer brands. He described the shutdown as a disappointment but emphasized the learnings as “invaluable.”

Looking ahead, Mittal said he plans to focus on new frontiers like AI, energy, and personal growth. “This chapter ends, but the climb continues,” he wrote, assuring investors that Hike will be closed responsibly.