$1.4B Valued Hike Messenger – Will it be Able to Survive Social Media Apps War?
Hike Messenger is an Indian messaging app. It offers features like messaging, voice calls, UPI payments, cab bookings, etc. It also supports offline messaging services where users can send messages cross-platform without having an internet connection. Kavin Bharti Mittal founded this company and, it is one of the most popular messaging platforms in India. Let's get to know about the success story of this innovative startup.
Note : Hike has planned to expand more in Tier 2 and 3 cities as they already have good growth in Tier 1 cities.
Hike Messenger - Key Points
- Company Name - Hike Messenger
- Founding Year - December 2012
- Android Release - June 2020
- iOS Release - March 2020
- Headquarters - New Delhi, India
- Owner - Kavin Bharti Mittal
- Parent Company - Hike Pvt. Ltd.
- Industry - Messaging App
- Languages Available - 10
- URL - www.hike.in
Hike Messenger - Founding Member and Team
Hike got founded by Kavin Bharti Mittal. He is the son of Indian businessman Bharti Mittal and a graduate of EEE (Electronics and Electrical Engineering) from the University of New York. Kavin is also the CEO of the company and Hike has a pretty hardworking team.
Hike Messenger - Brand Name, Logo, and Catchline
- Brand Name - Hike came up with a unique brand name that is short, simple, and easy to set in the mind of the users.
- Logo - Its logo is in catchy blue color that signifies trust, loyalty, and honesty.
- Catchline - Hike has changed its catchline a couple of times. Its current catchline is 'Hike up your life.
Hike Messenger - Funds and Investments
Hike rose more than $260 million funds in 6 rounds of funding. Some of its funds and investors are as follows:
- Undisclosed Amount - Venture Round, Sean Rad, Justin Mateen, 2021
- $175 million - Series D Stage, Foxconn Technology Group, Tencent Holdings, 2016
- Undisclosed Amount - Venture Round, 2016
- $65 million - Series C Stage, Tiger Global Management, 2014
- $14 million - Series B Stage, Bharti Soft Bank, 2014
- $7 million - Series A Stage, Bharti Soft Bank, 2013
Fun Fact: Hike also achieved its Unicorn status in the startup market with its latest funding.
Hike Messenger - Features
Hike offers various features to its customers. Some of its unique features are as follows:
- Hike Direct - This feature allows sharing videos, music, apps, etc., without an internet or Wi-Fi connection within a 100m radius.
- Hike Wallet - Hike offers a wallet feature to its customer. They can transfer money UPI from this wallet to anyone. Users and also book cabs from the hike app.
- Hike ID - This feature helps the users to chat with anyone without sharing the number. More than 70% of their customers love this feature and find it more comfortable to text without sharing the number.
- Hike Web - This offers to chat over computers. It is 100% secure and end-to-end encrypted.
- Hike Moji - This feature helps the users in taking selfies in different expressions. They offer more than 1000 options with the help of artificial intelligence.
Hike Messenger - Tie-Ups
Tie-ups help businesses to diversify their operations in various fields. It also offers its customers the best experience on just one platform. Every successful company prefers collaborating with several organizations to grow their businesses. It is one of the best ways to grow and increase the customer base.
Hike Messenger is doing the same thing by collaborating with several companies to provide the best experience to its customers. Some of its tie-ups are as follows:
- Yes Bank
- Airtel Payment Bank
- Ola Cabs
- Pizza Hut
Hike Messenger - Acquisitions
Acquisitions are a significant part of any business. It helps the businesses to grow and, it also helps in merging the new competitors. Some of the companies acquired by Hike Messenger are as follows:
- CREO - 2017
- Insta Lively - 2017
- Thought Mechanics - 2015
- Zip Phones - 2015
- Hoppr and Tiny Mogul Games - 2015
Hike Messenger – Growth
- Hike saw impressive growth in just one year of its incorporation.
- It became the top-rated app on Google Play Store, Windows Store, and iOS Apple Store.
- It gained around 16 million users in just one year.
- Hike Messenger's 60% to 65% of users are from India and, the rest are from Middle Eastern countries. Germany and other parts of the globe.
- It got downloaded by more than a billion users from the Play Store.
- It is rated 4.4 on the Google Play Store by over 5 million users.
Hike Messenger - Competitors
WhatsApp is one of the biggest competitors of Hike Messenger. They already have more than 5 billion users. It has several other competitors in the market as well. Most of them have a strong market hold and a good customer base. Some of its competitors are as follows:
- Kik Messenger
Hike Messenger - Challenges
Some of the challenges of the company are as follows:
- Competitors - Hike has a lot of competitors in the market. It is one of the main challenges for the company to overshadow its competitors and attract more customers to its platform.
- Too many features - Hike messenger offers a lot of features to its customer. It is convenient for the customers but, it is losing the essence of the messaging app. It is a challenge for the company to keep its users connected with it.
- Targeting Gen-Z and Millennial - Hike target customers were the 16-25 age group. Also, they are focused only on the urban population. It limits the user base of the company. It is one of the significant hindrances in the overall growth of the company.
Hike Messenger - Upcoming Plans
- The company is planning to expand in the online gaming sector. Hike already has apps like Vibe and Rush for online gaming fans.
- They also wish to enter the crypto industry as it will be one of the most lucrative industries in the future.
- They will offer various services related to cryptocurrencies.
- They are targeting to capture 20-25% of the young population.
Hike – India’s First AI-based Messaging App
Hike Messenger is undoubtedly one of the best messaging apps we have right now. It offers various features to its customer that makes our experience more enjoyable and hassle-free. Some of its features are unique and, these are not available in any other messaging app. It is what makes Hike messenger stand out amongst all of its competitors.