Hike Messenger, a joint endeavor between Bharti Enterprises and SoftBank, raised its Series D funding round of $175 mn at a valuation of $1.4 bn, in a round led by Tencent and Foxconn.
New Delhi - August 16th, 2016. RedNewswire/-
Existing speculators Tiger, Bharti, and Softbank all likewise took part in the funding round. Strangely, Tencent additionally claims WeChat, a contender for Hike in India.
In January, Hike declared that it has a base of 100 million clients, 95 percent of whom are situated in India. As indicated by the organization, its clients trade 40 billion messages for every month, and burn through 120 minutes every week on the stage.
"Hike deeply understands India; a highly diverse market with many nuances," said Martin Lau, Tencent President. "With our investment, Hike will be able to leverage our deep domain expertise in the messaging platform space."
Talking about Foxconn's investment in Hike, FIH Mobile CEO, Calvin Chih said that messaging platforms represent significant investment potential. "Hike, with its hyperlocal strategy is clearly the company of choice for us to co-invest with our partners, SoftBank and Tencent," he 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," added Masayoshi Son, Founder, Chairman and CEO, SoftBank Group.
The organization will utilize the cash brought to put up in territories for the long term, as indicated by Kavin Bharti Mittal, Founder and CEO Hike Messenger, who additionally discussed the significance of the interest in that it gets new partners such as Foxconn and Tencent