Hike Buys Tech Startup Creo for Ser­vices Boost

The Economic Times - - Companies: Pursuit Of Profit - Our Bu­reau

New Delhi: Hike Mes­sen­ger has ac­quired Creo, a Bengaluru-based tech­nol­ogy startup, as it looks to beef up its ser­vices of­fer­ings. The home-grown mes­sag­ing plat­form — backed by the likes of Ten­cent, Fox­conn, Tiger Global, SoftBank and Bharti Air­tel — said in a state­ment on Fri­day, “The Creo team will be work­ing on a plat­form to en­able third party de­vel­op­ers build ser­vices on the Hike plat­form.” The com­pa­nies didn’t not pro­vide any fi­nan­cial de­tails of the deal.

Creo was founded by for­mer Hike em­ploy­ees Sai Srini­vas Ki­ran G and Shub­ham Mal­ho­tra in De­cem­ber 2013. With over 50 em­ploy­ees, Creo has launched hard­ware prod­ucts such as stream­ing me­dia don­gles and smart­phones.

Hike, headed by Kavin Mit­tal, son of Bharti Air­tel chair­man Sunil Mit­tal, has over 300 em­ploy­ees spread across Delhi and Bengaluru. In Au­gust 2016,

Hike raised its fourth round of fund­ing of $175 mil­lion which was led by Ten­cent and Fox­conn, at a val­u­a­tion of $1.4 bil­lion.

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