The Indian social media platform Koo is ceasing operations after acquisition talks with another company collapsed. The company faced significant challenges in expanding its user base and generating revenue over the past two years.
Details
The Indian Twitter alternative was in acquisition talks with internet media startup Daily Hunt with reports of being acquired for about $5 Billion. But the talks fell through according to Koo founders.
Flashback
The company had reportedly raised $60 million from investors including Tiger Global and Accel and was seen as a viable alternative to Twitter after it was acquired by Elon Musk.
Between The Lines
Koo initially gained popularity in India during a period of tension between Twitter and the Indian government after it was reported that Twitter challenged the government’s requests for content removal.
The platform had attracted numerous high-profile Indian politicians to the platform had also expanded to Brazil.
What They’re Saying
“We explored partnerships with multiple larger internet companies, conglomerates and media houses but these talks didn’t yield the outcome we wanted,” Koo founders Aprameya Radhakrishna and Mayank Bidawatka wrote in a LinkedIn post.
“Most of them didn’t want to deal with user generated content and the wild nature of a social media company.”
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