The founder of Koo announced its closure
Co-founders Radhakrishna and Vidavatka said in a LinkedIn post on Wednesday that the company was shutting down after takeover talks with “several large internet companies, majors and media houses” failed. TechCrunch reported in February that Koo was in talks to be acquired by Bengaluru-based news and content company Dailyhunt.
The founder also said that “several” companies in discussions with the company “changed their priorities leading up to the deal signing” and “mostly don’t want to deal with the wild nature of user-generated content and social media.” ” . Company. ”
At its peak, Ku had about 10 million monthly active users and 2.1 million daily active users. As Twitter and the Indian government clashed over requests to remove content, the app gained popularity thanks to the government’s approval and acceptance. Ko said the company plans to reach 50 million users in 2022, surpassing Twitter’s user base in India within a year.
Another factor that affected the company’s growth was the long winter of capital, which also affected several other startups around the world. Radhakrishna said it took five to six years of “aggressive, long-term and patient capital” for Ku to significantly grow its user base before monetization. Particle for direct object
Radhakrishna said the decision to close Koo was taken because the cost of running a social media app was too high. Koo will release its algorithms in 2022, and its founders now say they also plan to transform the service into a digital public good that enables social conversations in native languages around the world.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
