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metier inauguration Dailyhunt is in advanced stages of talks to acquire the Bengaluru - headquarter societal internet Koo , two sources familiar with the matter told me .
The possible wad under discussion imply a parcel - swap agreement and could be finalized within weeks , the germ add together , requesting namelessness as the issue is private .
The deliberation follows Koo , which hassought to become a Twitter rival , aggressively run for new capital throughout last year . The societal web , available in Indiaand Brazil , is depend on the melodic theme that its approach of supporting multiple local languages will facilitate the eponymous app come across generally with the larger masses .
Koo Colorado - founder Mayank Bidawatka say in September that the startup — which has raised over $ 60 million from investors , let in Tiger Global , Accel , 3One4 Capital , Mirae Asset and Blume — waslooking to discover a strategical partnerwith a “ distribution forcefulness ” for its “ next phase ” of journey .
“ From grow rapidly to cutting down on increase and evidence unit economics , within 6 months of revenue experiment , we took a 180 degree turn and proved that this is a real byplay , ” he wrote .
Dailyhunt , which was last valued at $ 5 billion , and Koo declined to notice .
VerSe Innovation , the parent firm of Dailyhunt , reaches more than 300 million users in India through its intelligence aggregator chopine and short - video app Josh . Itraised a financial support daily round of $ 805 millionin April 2022 from investors , include Canada Pension Plan Investment Board , Ontario Teachers ’ Pension Plan Board , Sofina Group and Baillie Gifford .
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Over the retiring few calendar month , we have been talking to multiple spouse who could help us achieve this .
Our responsibility towards a wider community of stakeholders ( user , creators , VIPs , investors , policy makers , metier ) impel us to not share anything prematurely while we ’d wish to say more . request your forbearance till we can share more concrete details of this partnership that will assist Koo take wing in an organic manner and help gainsay global competitors in a meaningful way .
Amerind digital products are being made to international standards and it ’s time to make global brands from India . As everyone knows , the startup ecosystem globally has witnessed a financial backing crunch without which Koo would have been on its way to rapid international market expansion .
