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Hike, once a unicorn, shuts down as India cracks down on real-money gaming
Hike, which started as a WhatsApp rival before pivoting to real-money gaming, is now sunsetting after India's sweeping ban.
On Saturday, Hike founder Mittal (pictured above) said that the startup’s U.S. business, which launched nine months ago, was “off to a strong start.” But he said scaling it globally would require “a full recap, a reset that is not the best use of capital or time.” In response, top industry players including Dream Sports and Mobile Premier League (MPL) began shutting down their real-money gaming operations in India. Some VC firms backing these startups have also questioned their founders on whether there had been any early signs of regulatory action — and if so, why no steps were taken to mitigate the impact, sources familiar with the conversations told TechCrunch.
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