Koo announces to shut down after partnership talks fell through

Koo to cease operations after failed partnership negotiations
Koo announces to shut down after partnership talks fell through
Koo announces to shut down after partnership talks fell through

Homegrown micro-blogging platform Koo announced on Wednesday that it will cease operations to the public after negotiations for partnerships fell through.

According to a LinkedIn post by Koo founders Aprameya Radhakrishna and Mayank Bidawatka, they explored partnerships with various larger internet companies, conglomerates, and media houses, but these discussions did not result in the desired outcomes.

"Most of them were hesitant to manage user-generated content and the unpredictable nature of a social media platform. Some changed their priorities at the last moment," the founders wrote.

Despite securing over $60 million in funding from investors like Tiger Global and Accel, Koo struggled to expand its user base and generate revenue over the past year. In February, media firm Dailyhunt was reportedly close to acquiring Koo, as per TechCrunch.

At its peak, Koo had approximately 2.1 million daily active users and around 10 million monthly active users, including over 9000 VIPs from various fields.

Also, read: Samsung launches new AI-powered laptop in India

The founders lamented missing the opportunity to surpass Twitter (now X) in India in 2022 and regretted not being able to capitalize on that momentum with additional capital.

They attributed the decision to the prevailing market sentiment and challenges in securing funding amidst a "funding winter".

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