One of the most valuable startups in India, once in a Unicorn Startup, has become the latest accident of New Delhi’s recent Real Money Gaming ban, headed by Aerotle’s founder Sunil Bharti’s son Kevin Indian Metal.
On Saturday, Hack’s founder Mittal (in the picture above) said that the startup of the startup nine months ago was “away from a strong start.” But to measure it globally, “a complete recovery will be needed, a reset that is not the best use of capital or time.”
Initially, as a quick messaging app, the WhatsApp was started in 2012, in recent years, Hack offered comfortable sports like Chrome and Ludo, with his basic platform, rush, after the closure of the hack messenger in 2021.
Investors, including Tiger Global, Soft Bank, and Tennis, supported Hayck’s initial ambitions to fight WhatsApp with a Youth -based messaging app. The start in 2016 was worth $ 1.4 billion.
“We can increase the capital, but the real question is: Is it worth it? Is it worth a climb for whom the axis is?” Source Is written In the post together. “For the first time in 13 years, my answer is not. Not for me, not for my team, and not for our investors.”
Last month, the Indian government surprised the gaming industry by introducing the online gaming act, 2025 advertising and regulation, which surprised the gaming industry, which banned the blanket on such platforms. The federal government said the decision was intended to deal with the casualties, including cases where people were allegedly killed after losing money in the games.
In response, the top industry players, including Dream Sports and Mobile Premier League (MPL), began closing their real mini gaming operations in India. While some started to move like new projects Micro Drama And Financial servicesOthers began searching for international markets to keep parts of their gaming business alive.
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Crackdown has also triggered a tide. The hir like companies has caused about 2,000 2,000 damage to the job Games 24 x 7For, for, for,. Head digital workFor, for, for,. MPLAnd Sabop. Sources told Tech Crunch that some of them are planning to cut up to 90 % of their workforce as they try to adopt or go out.
Sources familiar with the conversation told Takkarch that some VC firms supporting these startups have also questioned their founders whether there were preliminary signs of disciplinary proceedings or not – and if so, no action was taken to reduce this effect, the talk was not taken.
Earlier this week, the Indian Supreme Court Challenging all applications New Law – whose rules have yet to be notified – from several state courts across the country. However, the Supreme Court has not yet started to hear the matter.
Mittal wrote, “This is a frustration and severe consequence. But I choose to look at the bright side: learning is invaluable, and after that my faith is even stronger.”