MUMBAI Aug 27 Indian mobile messaging service
provider Hike said it raised $65 million in fresh funding, led
by New York-based investment firm Tiger Global, to spend on its
product and expand its team.
Hike said its parent Bharti SoftBank, a joint venture
between India's Bharti Enterprises and Japan's SoftBank Corp
, was the other investor in the new round of funding. It
did not say specify Tiger Global and Bharti SoftBank's
Bharti Enterprises is the parent of top Indian mobile phone
carrier Bharti Airtel Ltd.
Hike, which competes with messaging apps such as WhatsApp
and Line, said it has more than 35 million users with more than
90 percent from India.
India is the world's second-biggest mobile phone market
after China by number of users. Smartphone sales have surged in
the past two years after the launch of high-speed networks,
making the country the world's third-biggest smartphone market.
(Reporting by Devidutta Tripathy; Editing by Prateek