Twitter Rival Koo Shuts Down Amid Failed Acquisition Talks

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Koo Shuts Down

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Financial Struggles

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Founders' Announcement

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Operational Challenges

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Platform Vision

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Financial Performance

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Salary Halted

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India’s Twitter Rival Koo Shuts Down After Acquisition Talks With Dailyhunt Fail

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Twitter Rival Koo Shuts Down Amid Failed Acquisition Talks

Koo Shuts Down

Koo, an Indian alternative to X (formerly Twitter), is shutting down due to failed acquisition talks with Dailyhunt.

Financial Struggles

Despite raising over $50M from investors, Koo struggled to expand its user base and generate revenue.

Founders' Announcement

“Our partnership talks fell through, and we will discontinue our service to the public,” the founders said.

Operational Challenges

High technology service costs and challenges with user-generated content made it tough for Koo to continue.

Platform Vision

Founded in 2020, Koo aimed to be an Indian social media platform for sharing audio and video content.

Financial Performance

Koo had an operating income of INR 14 Lakh and a loss of INR 197 Cr in FY22, with active users dropping from 7.2M to 2.7M.

Salary Halted

Koo halted salary payments to employees from April 2024 due to financial constraints, leading to the shutdown decision.

India’s Twitter Rival Koo Shuts Down After Acquisition Talks With Dailyhunt Fail