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Bharti SoftBank to invest Rs. 37 crore ($ 7 million ) in Hike application

Bharti SoftBank (BSB) said, "It will invest $7 million (Rs 37 crore) in it's messaging application 'Hike'.

Messaging application 'Hike' recently crossed 5 million users in just four months after launched on December 12.

BSB, a joint-venture between Bharti Enterprises and SoftBank Corporation, today announced to invest fresh $ 7 million in their Free messaging app 'Hike', said in a statement.

"The traction for hike has been phenomenal, especially in such a competitive market. This new round of investment is an endorsement, of the great work put in by the entire team," BSB Director Mike Kayamori said.

The BSB also introduced and Update called Hike 2.0, it allows users to post updates what they are upto and what they are thinking in real-time only to their close friends.

"We are thrilled by the phenomenal response we've received over the last couple of months," BSB Head of Product and Strategy Kavin Bharti Mittal said.

The messaging app 'Hike' allows users to send Free SMS, even to those who do not have Hike in their handset. 60 % of Hike's user base comes from India and the rest from Middle East and Europe.

http://www.firstpost.com/wp-content/uploads/2012/11/HikeScreengrab_Website.jpg

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