Indian Messaging App Hike Secures $175 Million From Tencent & Foxconn

Indian Messaging App Hike Secures $175 Million From Tencent & Foxconn Image Credit: Hike

Hike, an Indian over-the-top (OTT) chat app announced that it has received $175 million in a series D round led by Chinese company Tencent and Taiwanese chipset maker, Foxconn. Tencent developed WeChat, an extremely popular chat app in China.

Hike which is also backed by leading operators such as Bharti and Softbank, is currently valued at $1.4 billion with the latest round of funding. Hike reports that it has 100 million registered users and manages traffic of 40 billion messages on a monthly basis. Facebook's WhatsApp is Hike’s biggest competitor, with more than 70 million users in the country.

"Tencent entered the Indian market in 2013 through WeChat. It was unable to capture the local traits of the market, however, despite partnerships with local content providers such as BuzzFeed India and Hungama. Both WeChat and Hike follow a similar strategy with a strong emphasis on localization. Examples of localization include the types of stickers offered on Hike, or features such as private chat which have been designed with the Indian youth in mind.", according to Neha Dharia, Senior Analyst, Consumer Services, Ovum.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

PREVIOUS POST

ItsOn Raises $12.5 million for Global Expansion

NEXT POST

Boku Raises $13.75M to Expand Carrier Billing Across Operators

THE EDITOR'S DESK

UPCOMING EVENTS

Artelligence 2019

Network Virtualization and SDN Asia

Network Virtualization & SDN Americas

Mobile 360 Digital Societies 2019

TADSummit 2019

MWC Los Angeles 2019

The Digitrans Forum 2019

Mobile 360 Eurasia 2019

ON TWITTER

ON FACEBOOK