Homegrown WhatsApp-Rival Hike Shuts Down Its Messaging Service As Telegram, Signal Add Millions Of Users

Backed by Tencent, Tiger Global and SoftBank, homegrown Hike Messenger has shut down its messaging app Sticker-Chat at a time when the global messenger application space has been witnessing a heated competition between WhatsApp and its rivals Signal and Telegram, reports Tech Crunch.

Hike's founder and chief executive Kavin Mittal took to Twitter and emphasised that unless Indian government bans western companies, India will not have its own messaging platform due to the "strong network effects of global platforms".

Talking about Signal and Telegram, he added, "Both are very good. As entities, they have the right incentives (more aligned with consumers), unlike Facebook products." The two platforms have recently went on to attract millions to use their product amid concerns over WhatsApp privacy policy update.

Son of Bharti Airtel's billionaire chief Sunil Mittal, Kavin had founded Hike and the messenger app in its prime has seen its valuation soar to as high as $1.4 billion in 2016.

It should be noted though that having shut Sticker-Chat, Hike Messenger had earlier this month pivoted to two virtual social platforms called Vibe and Rush.