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The Amerind social medium program Koo , whichpositioned itself as a competitor to Elon Musk ’s X , is lay off operation after its last - resort acquisition talks with Dailyhunt collapsed .
Despite secure over $ 60 million in funding from prominent investors , including Accel and Tiger Global , Koo face substantial challenge in expand its user foot and generating gross over the retiring two years .
TechCrunch alone report in February that Koo wasengaging with Dailyhunt , an internet medium startup valued at $ 5 billion , for a potential sale . The talks did n’t materialize into a deal , Koo beginner said Wednesday .
“ We explored partnerships with multiple larger net companies , conglomerates and media house but these dialogue did n’t yield the outcome we wanted , ” Koo beginner Aprameya Radhakrishna and Mayank Bidawatkawrotein a LinkedIn C. W. Post . “ Most of them did n’t want to carry on with user generated content and the wild nature of a social media society . ”
Koo seek to win users in India by give them an ten - like political program where they could express themselves in multiple local languages . Koo initially gained popularity in India duringa period of stress between Twitter and the Native American government . The conflict come out after Twitterchallenged the government ’s opaque requestsfor content removal .
Last twelvemonth Twitter carbon monoxide - founder Jack Dorsey allege that the Indian governing hadthreatened to exclude down the societal connection in the countryand raid the habitation of its employee . ( The Amerind government rebut Dorsey ’s allegement and a top minister at the clip order Dorsey was attempt to “ sweep out that very doubtful period of Twitter ’s history . ” )
Koo took vantage of the situation and positioned itself as a more compliant alternative , pledging to cling to local regulations . This approach path attract numerous high - profile Indian politicians to the platform , though nearly none from the opponent political party . The startup had also extend its eponymous app to Brazil .
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But a prolonged financial backing winter , which thrust startups globally to scale their revenue and ameliorate their finances , “ capture the upright of us , ” Koo founders said .
For years , Indian enterpriser and investors have raced tocreate homegrown option to popular platformslike Facebook , Instagram , Twitter , WhatsApp and YouTube . It ’s becoming progressively evident that these established American companies are demonstrating ranking capability in serving even the most diverse segment of the Indian market .
