$175 Million. Tencent. Foxconn.
Today, we announce another big milestone in our journey.
I’m thrilled to announce that we’ve raised over $175 Million in a new round of funding led by Tencent & Foxconn. We’ve raised this round at a valuation of $1.4 Billion.
Tencent and Foxconn both have pedigrees that speak for themselves and such an investment especially in today’s market just goes to show the strong foundation on which Hike is being built. The new fund raise is going to allow us to push Hike to greater heights and invest in areas that will be key to our long term vision and success. I’m equally excited to have our existing shareholders Tiger, SoftBank and Bharti follow in this round who continue to show strong support in our long term vision.
Martin Lau, Tencent President speaking on the investment: “Hike deeply understands India; a highly diverse market with many nuances. It is on a mission synergistic to ours, which is to enhance the quality of human life through internet services. With our investment, Hike will be able to leverage our deep domain expertise in the messaging platform space to provide more value to its users in India.”
Calvin Chih, Foxconn FIH Mobile CEO: “Messaging platforms are where consumers and their social networks reside and represent significant investment potential, particularly in a market like India, where most people will access the internet for the first time on their mobile phones. As a leading provider of mobiles technology and Internet of Things solutions, FIH Mobile understands the value that mobile platforms, such as Hike Messenger, bring to our business portfolio and our strategy for delivering cutting-edge products and solutions that meet the needs of our customers and consumers, enabling us to achieve sustainable business growth. 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, the longest standing investor in Hike said: “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. The team has reached an outstanding scale in a short span of 3.5 years. As an investor, we share their vision and are happy that they are moving ahead in their journey so quickly in a competitive environment.”
A link to the official press release can be found here.
It’s only been 3 years, 8 months and 5 days to this date since we launched hike. That’s not long but it feels like a lifetime. Over the course of these few years, we’ve beaten all odds and built a product used by 10s of millions of people and a company where people make magic happen everyday, a place that over 250 people are proud to call their workplace.
It really is an incredibly exciting time to be at Hike. Not only do we get to wake up every morning knowing that our work will impact millions of people, we now also have two incredible new partners to do that with, as we further our mission to bring India online.
As always — Go big or go home, right?