Hike Messenger receives funding of USD 175 million headed by Tencent and Foxconn

Hike Messenger receives funding of USD 175 million headed by Tencent and Foxconn
India's Internet and messaging company Hike Messenger has raised a Series D funding of USD 175 Million led by Tencent Holdings Limited and Foxconn Technology Group. The company has been valued near USD 1.4 Billion. This round of funding also includes existing investors Tiger, Bharti and SoftBank Group as participants. This is the biggest funding till date for Hike and this fourth round increases value propositions for the company manifold.

Hike Messenger had announced back in January 2016 that it has around 100 million users on its platform out of which 95% are based in India. The users send around 40 billion messages per month and devote around 120 minutes per week enjoying various services of the platform.

Hike has been built around three main key points:

Local Content: The messenger includes more than 10000 stickers in 40 languages. There are a lot of themes as well as a multi-lungual user interface. Other content based services include News in Hindi and English, Games, Live Cricket, Coupons, Just for Laughs and Hike Daily.

Privacy: Hike Messenger includes the ability to hide chats easily through the Hidden Mode. This also allows users to define to whom they want to expose their last seen, display pictures, status updates and other information. On being asked whether Hike would start doing end-to-end encryption for chats the way WhatsApp does, it was reported that it was not a much demanded feature so they have no plans as yet.

Data Constraints: Hike has a few useful features for users who are low on data or out of data. Hike2SMS is one such micro service that helps the customers to send free SMS when there is lack of Internet connectivity. The other one is Hike Direct which lets users share files, again without the need for Internet.

Hike has no plans of going public with an IPO as of now and would probably wait for a few years of more growth before they would be able to make plans for that. However, with this new series of funding by Tencent and Foxconn, Hike is definitely going to polish its services further as Tencent are the developers of WeChat, one of the most used messaging applications in China.

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