To strengthen its force in the Facebook Messenger and WhatsApp-dominated market, Hike Messenger has received investment funding.
Silicon Valley tech veterans have reportedly invested an undisclosed funding to the Indian instant messaging firm – Hike Messenger. The key players from Silicon Valley that took part in the investment initiative include Adam D’Angelo, who is the founder of Quora; WordPress’ co-founder Matt Mullenweg; Aditya Agarwal who is the Vice President of Engineering at Dropbox and also former VP of Operations at Dropbox, Ruchi Sanghvi.
About Hike Messenger
Hike Messenger is a multi-platform instant messaging app based in India that enables its users to communicate via text messaging, voice messaging and also share multimedia files. The app uses internet connection to convey its services. Hike is jointly owned by Bharti Enterprises and Softbank having Kavin Bharti Mittal as the CEO.
Having a user base of about 70 million, the 2012 December-launched app records traffic of over 30 billion monthly messages. The core and unique feature about the app is the user ability to communicate in about eight various Indian languages that include Marathi, Tamil, Telegu and Hindu as well. English is also supported on the application.
Investment and growth of Hike Messenger
The Silicon Valley’s investment funding towards Hike Messenger from the gurus aforementioned, is said to be of personal capacity and further financial details have not been disclosed.
Making the revelation, Mittal (also founder of Hike Messenger) said that it was an honor to have top intellects from the world to invest in Hike as well as chipping in with their proficiency and advice on strategy and product. The CEO went on and said in a statement, “each of them brings with him/her a core area of expertise, which we at Hike find immensely useful as we aggressively grow in India”.
The announcement therefore implies that the experts will also form part of Hike Messenger’s team. There have been a series of developments in the company with the CEO’s aim of reaching a user base of 100 million by mid this year remaining a top target. Recently, Hike Company spiced up its leadership with expertise from world recognized brands like Amazon, Unilever and PepsiCo. The company also received investment funding from Tiger Global Management.
Competition in the global market
Having a larger percentage of its users based in India, Hike Messenger plans to broaden its wings further and reach the global market. The global market consists of bigwig apps that have larger user bases, definite financial capital bases and highly qualified experts. For instance, WhatsApp, which is owned by Facebook, boasted of a user base surpassing 900 million during 2015’s last quarter. Another app in the market, Facebook Messenger, also recently announced having a user base of about 800 million users. These are just among the several apps that are in the social networking arena.
Approaching Silicon Valley gurus and engaging in business with them is a very brilliant move by the young and growing app – Hike Messenger. Silicon Valley is known for its tech superiority and expertise and getting involved in Hike’s affairs would mean a boost for the Indian company. On the other hand, the deal might look lucrative to Kavin Mittal’s side, but who knows if the gurus are taking advantage of India’s sudden explosion of Internet ventures’ growth?
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