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Hike acquires Bengaluru-based Creo team

Press Trust of India  |  New Delhi 

Homegrown messaging app Hike Messenger today said it has acquired the team of Bengaluru- based technology startup Creo. "The Creo team will begin work on a developer platform to enable third-party developers to build services on the Hike platform," a Hike spokesperson said in a statement. No financial details of the were disclosed. Creo, which makes streaming media dongles and smartphones, was founded by Sai Srinivas Kiran G and Shubham Malhotra, both of whom are former employees of Hike. Established in December 2013, the Creo team constitutes over 50 members. Hike Messenger, which competes with the likes of WhatsApp and Viber, had a userbase of over 100 million as of January 2016. It is yet to release the latest number. In August 2016, Hike had raised its fourth round of funding of USD 175 million, led by Tencent and Foxconn at a valuation of USD 1.4 billion.

The funding valued the company at USD 1 billion. Other investors in Hike include Tiger Global, Softbank and Bharti along with some tech veterans from the Silicon Valley. It has over 300 employees across Delhi and Bangalore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 11 2017. 18:33 IST