Koo, the Indian startup launched in 2020 to rival Twitter, has announced it will shut down operations. Founded by Aprameya Radhakrishna and Mayank Bidawatka, the company faced unsuccessful acquisition negotiations with “multiple larger internet companies, conglomerates, and media houses,” as stated by the founders. Koo aimed to provide an alternative to US-based internet services, focusing on local language users in India.
Koo founders reveal plans for closure
On Wednesday, the Koo founders shared an update on LinkedIn detailing the decision to cease operations following failed acquisition talks. A report by TechCrunch from February indicated that Koo was in discussions to be acquired by Dailyhunt, a news and content aggregator based in Bangalore.
Radhakrishna and Bidawatka noted that some potential acquirers shifted their priorities close to finalizing deals, and many were reluctant to handle user-generated content typical of social media platforms.
At its peak, Koo boasted approximately 10 million monthly active users and 2.1 million daily active users. The app gained traction, particularly after receiving government endorsement during a period of tension between Twitter and the Indian government over content removal demands. In 2022, Koo reported surpassing 50 million users and expressed ambitions to overtake Twitter’s user base in India within a year.
The startup’s growth was also hampered by a prolonged funding downturn that has impacted various startups globally. According to Radhakrishna, Koo required five to six years of “aggressive, long-term, and patient capital” to build a substantial user base capable of generating revenue.
