WinZO gives complete exit to Hike via $12M share buyback
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WinZO gives complete exit to Hike via $12M share buyback.. Image Source: IANS News
New Delhi, May 3 : Vernacular social gaming platform WinZO on Monday said it has bought back early investor Hikes shares for $12 million, making it one of the largest buyback transactions by an early stage firm in the Indian start-up ecosystem.
The move gives a complete exit to Hike with four-fold returns on their investment in May 2019.
Hike participated in the $5 million Series A funding in WinZO in 2019 and has received 4 times returns within a span of 18 months, the company said in a statement.