Social media app Koo is being shut down. This Indian startup was began about 4 years in the past to compete with micro-blogging platform Twitter (now known as X). It is going to be shut down after acquisition talks with massive web and media corporations failed.
Koo was began by Aprameya Radhakrishna and Mayank Bidawatka. It offered companies to customers within the languages of the nation. Aprameya and Bidawatka mentioned in a put up on LinkedIn on Wednesday that Koo will likely be shut down after acquisition talks with some massive web corporations, enterprise teams and media corporations failed. In February, a TechCrunch report claimed that talks have been on with Bangalore-based information and content material aggregator Dailyhunt to purchase Koo.
Its founders have mentioned that some corporations had modified their priorities when Koo’s acquisition deal was within the closing spherical and most of those corporations didn’t wish to take care of person generated content material. The app had about one crore month-to-month lively customers and about 21 lakh day by day lively customers at its peak. Koo’s reputation grew quickly when there was stress between the central authorities and Twitter over requests to take away content material. About two years in the past, Koo crossed the mark of 5 crore customers. It had set a goal to overhaul Twitter’s person base inside a 12 months. The variety of Twitter customers has grown quickly in the previous few years.
A significant downside for this startup was the shortage of funding. Aprameya mentioned that Koo wanted long-term funding to extend the variety of customers earlier than incomes income. He mentioned that the excessive price of operating this social media app is a serious motive behind the choice to close down Koo. Koo made its algorithm public about two years in the past. Its founders say they’re contemplating persevering with this service to allow social media in indigenous languages.