📷 Image Credits: TechCrunch
Indian social media platform Koo, which positioned itself as a competitor to Elon Musk’s X, is ceasing operations after acquisition talks with local peer Dailyhunt fell through. Despite securing over $60 million in funding from prominent investors including Tiger Global and Accel, Koo faced significant challenges in expanding its user base and generating revenue over the past two years.
TechCrunch exclusively reported in February that Koo was engaging with Dailyhunt, an internet media startup valued at $5 billion, for a potential sale. The talks didn’t materialize into a deal, leading to the decision to shut down. The founders of Koo, Aprameya Radhakrishna and Mayank Bidawatka, expressed their disappointment in a LinkedIn post, stating that talks with larger internet companies and media houses didn’t yield the desired outcomes.
Koo’s journey began with the aim of offering Indian users a platform similar to X, where they could express themselves in multiple local languages. The platform gained traction during a period of tension between Twitter and the Indian government, positioning itself as a more compliant alternative. However, challenges in revenue generation and user growth eventually led to its downfall.
The social media startup also faced setbacks in international expansion, despite attracting high-profile Indian politicians and celebrities to the platform. The decision to cease operations comes after a series of layoffs and cost-cutting measures in a bid to sustain the business.
While Koo’s founders expressed optimism about the platform’s future potential as a digital public good, the shutdown serves as a reminder of the competitive landscape in India’s social media industry. As established global companies continue to dominate the market, homegrown alternatives face an uphill battle in achieving sustainable growth and success.
