New Delhi: Koo, once hailed as India’s local alternative to Twitter (formerly known as X), is officially closing its doors. The news, initially reported on Wednesday, has now been confirmed by the company’s co-founders via a LinkedIn post. Mayank Bidawatka, co-founder of Koo, sheds light on the decision to wind down operations after partnership talks fell through.
The platform had engaged in discussions with several larger internet companies and media houses. Unfortunately, one of these negotiations collapsed at the eleventh hour due to shifting priorities. Aprameya Radhakrishna, Koo’s other co-founder, had previously positioned the platform as a global player, emphasizing its commitment to tailoring social media experiences to each country’s norms.
Despite its ambitious goals, Koo faced funding challenges. Bidawatka acknowledges that the “funding winter” hindered growth plans. He also highlights the complexities of building a social media platform, emphasizing the need for patient capital rather than an early profit focus.
The Koo team claims to have developed a globally scalable product in record time, outpacing X. Radhakrishna expressed optimism about expanding beyond India, envisioning Koo’s solution for multilingual countries worldwide.
However, the platform’s recent struggles with salary cuts and outstanding payments hinged on anticipated partnerships that ultimately didn’t materialize.
In conclusion, the co-founders advocate for increased capital support for Indian companies competing against global giants. Koo’s trajectory underscores the critical role played by well-established players in sustaining technology ventures.
