ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » Companies News

Valued at $1.4 billion but still a long Hike to meet WhatsApp, WeChat

Hike competes with global messaging giants such as Facebook's WhatsApp and China-based WeChat. In comparison to these two messaging apps, Hike's valuation is several times lower.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Valued at $1.4 billion but still a long Hike to meet WhatsApp, WeChat
Kavin Mittal, Founder and CEO of Hike Messenger at the launch of Hike Direct in New Delhi. Photo: IANS

India's homegrown messaging platform, Hike Messenger, raised $175 million (approximately Rs 1,170 crore) in its latest round of funding. The company said that it raised funding in a series D round led by China-based Tencent Holdings and Taiwan's Foxconn Technology Group taking its valuation to $1.4 Billion (Rs 9,350 crores).

With this investment, the total investment in the messenger is now over $250 million. Existing investors Tiger and Bharti also participated in this round.

Hike competes with global messaging giants such as Facebook's WhatsApp and China-based WeChat. In comparison to these two messaging apps, Hike's valuation is several times lower.

WeChat, for instance, was valued at $83.6 billion by August 2015, according to a HSBC report. While WhatsApp's valuation is expected to be over $19 billion last year, when it was acquired by Facebook.

In January 2016, Hike announced it has registered a user base of 100 million users. From which 95% of Hike users are based in India and 90% of them are young and below the age of 30.

WeChat, in comparison has crossed 700 million monthly active users (MAU) during March 2016,although a large majority of these are Chinese users. While WhatsApp had crossed 1 billion MAU by February 2016. Out of this over 70 million users that were using WhatsApp are from India.

Apart from this, Hike has an engagement of 120 minutes per week. This is a 2.4 times growth in the monthly messaging volume, according to Softbank's quarterly report for the quarter ending March 31, 2016.

In comparison, WhatsApp has a high average engagement of 30 minutes per day, according to a Bloomberg report. We Chat average engagement is a little lower at 18 minutes per day, according to DMR Stats.

Hike on all counts has to play catch up to these two messaging apps which are miles ahead in the race. Even in India, WhatsApp has captured the entire market and makes it very difficult for it grow its user base faster. WeChat, on the other hand, has captured the messaging users in its home country China with restrictions disallowing international messaging apps to function. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Hike MessengerHikeWhatsAppWeChatmessenger appvaluationmonthly active usersSoftbankIT
Written By: Collin Furtado
Updated: Wed, Aug 17, 2016
10:06 am
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Kavin Mittal's Hike Messenger raises $175 million; now a 'unicorn' Kavin Mittal's Hike Messenger raises $175 million; now a 'unicorn'
Here are 10 new features that WhatsApp is likely to roll out soon Here are 10 new features that WhatsApp is likely to roll out soon
Facebook launches WhatsApp desktop app for Windows, Mac Facebook launches WhatsApp desktop app for Windows, Mac
Google's new video calling app Duo to take on Skype, Messenger, FaceTime Google's new video calling app Duo to take on Skype, Messenger, FaceTime
Apple to boost investment despite tough market conditions in China Apple to boost investment despite tough market conditions in China

LATEST NEWS

Tech Mahindra Q3 results today; IT major's stock holds on to the green amid volatile trade

US Stock Market News: Dow, Nasdaq dragged by Apple, Alphabet, other megacap stocks ahead of Fed rate decision this week

PowerGrid Q3 Results Preview: Net profit likely to rise 9% to Rs 3,580 crore; margin may drop by 230 bps

Sanjiv Bhasin strategy stocks today Buy Tata Power and Bank of Baroda shares check price targets

President Biden to end COVID-19 emergencies on May 11

362 trains cancelled by Indian Railways today, January 31 - Check full list; IRCTC refund rule and ticket cancellation charges

What are Tax Saving Mutual Funds? Check benefits, and how to invest

IDBI Bank manager arrested for swindling money from customers' accounts

Hindenburg research report on Adani: Know the man who rattled Asia's richest man and Indian stock market; Hindenburg's past targets and more

Senior executives to see average pay hike of 9.1% in 2023: Study

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV