Hike, once a unicorn, shuts down as India cracks down on real-money gaming
The article discusses the shutdown of Hike, an Indian tech startup that initially competed with WhatsApp and later shifted its focus to real-money gaming. Hike, once a highly valued "unicorn" company, is now closing down operations due to India's recent crackdown on real-money gaming. The article highlights that Hike, which had previously raised significant funding, was unable to navigate the regulatory changes in the Indian market. The country's authorities have implemented a sweeping ban on real-money gaming, forcing Hike to shut down its operations. The article notes that Hike's pivot to real-money gaming was an attempt to diversify its business model, but the regulatory changes in the industry ultimately led to the company's demise. The shutdown of Hike serves as a cautionary tale for startups operating in industries facing increasing scrutiny and regulatory challenges.
Source: For the complete article, please visit the original source link below.
