India's Hike wins Tencent backing for $1.4b valuation
By Bloomberg | China Daily | Updated: 2016-08-18 07:45
App is highly localized, similar to China's WeChat
Hike Messenger became India's newest internet unicorn after securing a round of funding at a valuation of almost $1.4 billion from investors including Tencent Holdings Ltd and Foxconn Technology Group.
The app, which seeks to compete with Facebook Inc's WhatsApp, raised more than $175 million via a series D round in which existing backers Tiger Global, SoftBank Group Corp and Bharti Enterprises also participated, founder and Chief Executive Officer Kavin Bharti Mittal said.
Photo
