Indian social media platform Koo, once positioned as a formidable rival to X, announced the cessation of its operations. Co-founder Aprameya Radhakrishna confirmed the decision in a LinkedIn post, marking the end of the ambitious venture’s journey in the global social media landscape.
The closure follows unsuccessful attempts to secure a buyer or strategic partner, including discussions with prominent content aggregator DailyHunt, all of which faltered. Co-founder Mayank Bidawatka echoed Radhakrishna’s sentiments, emphasising the critical need for patient, long-term capital in sustaining ventures like Koo amidst intense competition from global giants.
“Projects like Koo require strategic investments and a long-term vision,” Radhakrishna stated, lamenting the expectation of quick returns in Bharat’s startup ecosystem. Despite a valuation of $275 million and substantial investments from backers like 3one4 Capital and Accel, Koo struggled to secure additional funding necessary for growth and sustainability, ultimately leading to its closure.
The development underscores broader challenges faced by Indian startups in navigating capital markets and competing on a global scale.
