Indian messaging app Hike has introduced that it has acquired Bengaluru primarily based startup Creo. Final yr, Creo had launched a smartphone and a few media dongles.
Creo was based in December 2013 by Sai Srinivas Kiran G and Shubham Malhotra, former Hike staff.
Creo had earlier launched Mark 1, a smartphone that ran on Gasoline OS primarily based on Android. Hike CEO Kavin Bharti Mittal was one of many buyers in Creo.
The Mark 1 was launched for Rs. 19,999 and simply three months later, the value was slashed by Rs. 6,000. In October final yr, the corporate introduced that it has stopped gadget manufacturing and can give attention to its Gasoline OS.
Hike didn’t reveal the monetary particulars of this acquisition. The 50-member Creo workforce will begin engaged on a developer platform to allow to 3rd get together builders to construct companies on Hike.
Coming to Hike, it was based in December 2012 and has over 100 million customers. In August final yr, Hike had raised $175 million led by Foxconn and Tencent at a valuation of $1.four billion. Foxconn, Tencent, SoftBank and Bharti are a number of the buyers in Hike.
Hike has over 300 staff and two places of work. That is the third acquisition by Hike. Beforehand, the corporate had acquired Wi-Fi calling start-up Zip Telephone in 2015 and live-streaming firm Pulse. Nevertheless, the corporate has nonetheless not confirmed the second acquisition.