Micro-blogging platform Koo is shutting down its service after talks for an acquisition failed.
The company’s founders, Mayank Bidawatka and Aprameya Radhakrishna, confirmed the news on a LinkedIn post.
This development comes after its likely acquisition by media firm Dailyhunt fell through, amid a funding winter that has hit many startups in the country.
“Our partnership talks fell through and we will be discontinuing our service to the public. We explored partnerships with multiple larger internet companies, conglomerates and media houses but these talks didn’t yield the outcome we wanted. Most of them didn’t want to deal with user generated content and the wild nature of a social media company. A couple of them changed priority almost close to signing,” the founders of Koo said on the LinkedIn post.
The Morning Context was the first to report on the matter.
.thumbnailWrapper{
width:6.62rem !important;
}
.alsoReadTitleImage{
min-width: 81px !important;
min-height: 81px !important;
}
.alsoReadMainTitleText{
font-size: 14px !important;
line-height: 20px !important;
}
.alsoReadHeadText{
font-size: 24px !important;
line-height: 20px !important;
}
}
Koo, which was considered an Indian alternative to US-based X, formerly Twitter, enabled users to post in regional languages.
In April, the company had halted salary payments to its employees but said it would remain operational. Employees were informed that future payments would be paid once a partnership was finalised.
Edited by Swetha Kannan
