Key Points
Homegrown social media platform Koo, which had pitched itself as a rival to X (previously Twitter) has shut shop as talks for an acquisition by internet companies like Dailyhunt did not fructify into a deal...
Cofounders Mayank Bidawatka and Aprameya Radhakrishna penned a note about making tough decisions and why they decided to bid a final goodbye...
We were just months away from beating Twitter in India in 2022 and could have doubled down on that short-term goal with capital behind us, the cofounders said.. Radhakrishna, who built ride-sharing company TaxiForSure (which was acquired by Ola for $200 million in 2015) cofounded Koo - a multilingual microblogging platform - in early 2020...
Koo is one of many companies that have tried and failed to disrupt the social media landscape with homegrown apps...
Local social media platforms like Mohalla Techs ShareChat and Moj, and VerSe Innovations short-video platform Josh, have met with a similar fate, underscoring the capital-intensive nature of the industry...
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