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Hike plans to increase user base to 100 million by 2016

  • Hike,
    India’s
    second largest over-the-top messenger app service, plans to increase its user
    base to 100 million by next year, reported
    Business
    Standard
    .
  •  
  • While
    the company also plans to start earning revenues in the next 12-18 months,

    • Hike,
      India’s
      second largest over-the-top messenger app service, plans to increase its user
      base to 100 million by next year, reported
      Business
      Standard
      .
    •  
    • While
      the company also plans to start earning revenues in the next 12-18 months,
      Chief Executive and Founder Kavin Bharti Mittal said the immediate focus was to
      gain more users.
    •  
    • “The
      market is changing fast and it becomes even more complex to build a great
      product that is used by 100 billion people. That’s our primary focus right now.
      We don’t believe in making money right now; it’s important to have a long-term
      view on business. We believe we have to get the product right, have a very
      large user base and then start thinking about generating revenue on a big
      scale,” said Mittal.
    •  
    • The
      company is working on a slew of products, which it believes would be a major
      source of revenue in the near future. Cashing in on the ongoing festive season,
      Hike has tied up with around 100 brands, including online marketplace giants.
      It has also launched a coupon service for getting discounts and benefits from
      partner brands.
    •  
    • “Coupons
      will be a source of revenue in the future. We are not only adding value to the
      consumers but also adding value to the brands that are partnering with us. Once
      that is established, then it makes sense to figure out the best revenue model
      for us which also benefits our consumers and brands. That is something that
      will take six to seven months,” Mittal said.
    •  
    • The
      company, which recently acquired Zip Phone, is open to more acquisitions.
      “We are looking to partner with people; it could be organic or inorganic.
      We are very open to acquire or partner with these companies. We already
      acquired Zip Phone, when we launched Voice with the Zip Phone technology. We
      are always talking to a bunch of people in the market; so there is no specific
      strategy over here,” Mittal noted.
    •  
    • Hike,
      which has a headcount of 200 employees at present, plans to double it in the
      next year. Last year, it secured $65 million from Tiger Global, and plans to
      raise another round of funding in the next six to 12 months.

     

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