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A joint venture between Bharti Enterprises and SoftBank, Hike Messenger has come out with the news of Series D funding totaling around $175 Million which is close to Rs. 1,170 crore which is majorly led by Tencent and Foxconn. Other investors namely Tiger, Softbank and Bharti were also the member of this funding round whereas a matter of fact is that Tencent is an owner of WeChat, a contender of Hike Messenger.
Going at the statistics, In January Hike reported that there is 100 million user base who are actively present on the Messenger with 95 percent of Indian Users. And according to the reports, users exchange 40 billion messages per month and spend around average 120 minutes each week on the messenger.
Martin Lau, Tencent president says, "Hike deeply understands India; a highly diverse market with many nuances, With our investment, Hike will be able to leverage our deep domain expertise in the messaging platform space."
Whereas, Foxconn CEO Calvin Chih said, “messaging platforms represent significant investment potential. Adding that, "Hike, with its hyperlocal strategy is clearly the company of choice for us to co-invest with our partners, SoftBank and Tencent,"
Masayoshi Son, Founder, Chairman and CEO, SoftBank Group added, "Hike is one of SoftBank's best performing portfolio companies in India and we are happy to have stayed invested in it from the beginning,"
Founder and CEO Hike Messenger, Kavin Bharti Mittal cleared that, “The company will be using the money raised to invest in areas for the long term.” And shared the importance of fundings including the new partners like Tencent and Foxconn.
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