India’s Messenger App Hike Has Revenue Issues
[dropcap]A[/dropcap]fter Flipkart, Ola and Paytm, another potential Indian Unicorn Hike, the Indian chat messenger is seeing some hard days! It is not generating any revenue!
Its latest filings with RoC shows that the five year old company is right back where it started; as per its March 2017 reports. Once valued at $1.4 billion, the company fails to come up with a significant revenue stream in financial year 2016-coupons that users bought to play in-app games accounted for almost all the operating revenue.
In the filings, the company showed a total income of Rs 11.4 crore in comparison to the 34,9 crore in FY2016, which had come on the back of profit from sale of investments.
The total expenditure in FY17 was Rs 227.3 crore in comparison to last year's Rs 252.2 crore. The net los...