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In recent months, the company was in talks with Dailyhunt and Sharechat, but these negotiations did not materialize. As the founders sought new partners, they acknowledged facing increasing challenges

Koo shuts down: India's X rival shuts operations amid acquisition failures and financial struggles

In recent months, the company was in talks with Dailyhunt and Sharechat, but these negotiations did not materialize. As the founders sought new partners, they acknowledged facing increasing challenges

Started as an alternative to X (formerly Twitter), Indian microblogging social media startup Koo is shutting down amid severe financial troubles and potential acquisition talks falling through. In a post on LinkedIn, the co-founders announced that despite discussions with several large internet firms, conglomerates, and media houses, no satisfactory partnerships materialized. They went on to say, that many were reluctant to manage user-generated content and the unpredictable nature of a social media company.After launching in March 2020, Koo gained popularity and reached over 9 million monthly active users by July 2022. Koo had managed to secure $60 million in funding from known investors like Tiger Global and Accel after it won the Atmanirbhar App Innovation Challenge, a part of the Indian government&rsquo;s &ldquo;Make in India&rdquo; initiative. However, the company soon began facing challenges. In September 2022, around 40 employees were let go. By April 2023, as per reports, the company downsized its workforce by 30%. Meanwhile, Koo's monthly active users dropped to 3.1 million in April 2023, down from a peak of 9.4 million in July 2022. In recent months, the company was in talks with Dailyhunt and Sharechat, but these negotiations did not materialize. As the founders sought new partners, they acknowledged facing increasing challenges.As fewer users joined the platform over time, Koo struggled to control its spending, despite cutting jobs and costs. By April 2023, they had managed to bring down their monthly expenses to about 10.2 crore rupees from around 16 crore rupees in January 2023. However, the company has been in a tight spot without being able to raise additional funds. "The mood of the market and the funding winter got the better of us. Koo could have easily scaled internationally and given India a global brand that was truly made in India. This dream will remain" the founders said in the LinkedIn post.

Following a 40% salary cuts for those earning above Rs 30,000 per month, Koo has been witnessing an exodus of senior level employees in the recent months

Microblogging site Koo pauses salary payments for April

<h2>Following a 40% salary cuts for those earning above Rs 30,000 per month, Koo has been witnessing an exodus of senior level employees in the recent months</h2>

Microblogging platform Koo has held the April salary payment to all of its employees. The firm has cited financial constraints and an ongoing negotiations with potential strategic partners as the reasons.&nbsp;
<h3>Koo halts salary</h3>
The company spokesperson told the Financial Express that the salaries will be paid post conclusion of the partnership since it requires a fresh capital infusion
&ldquo;We are in talks with strategic partners for Koo. This is taking longer than expected. In order to get the partnership through, we have ploughed in substantial personal funds also to meet past salaries. Salaries will continue to be paid post conclusion of the partnership since this partnership also includes a fresh capital infusion,&rdquo; a Koo spokesperson stated.
As per Financial Express, the company has been witnessing an exodus of senior level employees in the recent months. This after Koo implemented a 40% salary cuts for those earning above Rs 30,000 per month.
<h3>Partnership with Koo</h3>
Financial Express quoted people with knowledge of the matter and said that its talks with news aggregator platform Dailyhunt and short-video app Josh&rsquo;s parent company VerSe Innovation for acquisition fell through.
Koo co-founder Mayank Bidawatka on Thursday took to Linkedin and said that the firm chose to cut the salaries instead of laying off people to survive the situation.
&ldquo;It&rsquo;s painful to cut salaries of people who&rsquo;ve helped build the company. We had the option of either letting a good part of the workforce go or do a haircut for everyone. We did the latter. This way everyone could sustain without having to look for a job at a time when hiring across startups is at its all time low,&rdquo; Bidawatka said in the post.
&ldquo;Koo remains operational. It&rsquo;s very well built and a fully automated product that needs little manual intervention to function,&rdquo; he added.
Since its launch, the organisation has raised $50 million in funding. It is backed by Tiger Global, Accel, 3one4 Capital, Kalaari Capital, and Blume Ventures. Koo which aimed to pose a challenge to X, stopped customer acquisition campaigns since June 2022.
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Amid severe funding winter in startups, Indian social media platform Koo has reportedly laid off 30% of its staff

Social media platform Koo fires 30% staff amid funding crunch: Report

Amid severe funding winter in startups, Indian social media platform Koo has reportedly laid off 30% of its staff

Twitter Inc's rival Koo has reportedly fired 30% of its staffs amid funding crunch. The company has been struggling with losses and inability to raise funds for the past few months in the wake of slowdown in startup funding.&nbsp;
As per research firm Traxcn, startup funding has gone down 75% in the Jan-March quarter compared to the same period last year. As per its data, Koo raised funds at a valuation of $273 million last year. Accel and Kalaari Capital were among its investors.
Koo's spokesperson told Bloomberg that the global sentiment is currently more focused on efficiency than growth and businesses need to work toward proving unit economics. The company had around 260 employees before the lay off. Koo had fired 15 employees last year. The spokesperson also added that the employees who are let go would be given compensation packages, health benefits and help in finding new jobs.
Koo had a prominent growth as it benefitted from Indian authorities clash with twitter over its content on the platform. Several celebrities too chose Koo over twitter. However funding winter in startups have lead to job cuts in the Bengaluru-based social media platform Koo.
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Koo-the Made-in-India rival of Twitter has offered to migrate all historic tweets of any Twitter user willing to shift to its platform that will continue to not charge users for verification badge, its co-founder and CEO Aprameya Radhakrishna said.

Amid Twitter chaos, Koo offers to migrate historic tweets to escape 'intellectual assassination'

Koo-the Made-in-India rival of Twitter has offered to migrate all historic tweets of any Twitter user willing to shift to its platform that will continue to not charge users for verification badge, its co-founder and CEO Aprameya Radhakrishna said

Koo -- the Made-in-India rival of Twitter -- has offered to migrate all historic tweets of any Twitter user willing to shift to its platform that will continue to not charge users for verification badge, its co-founder and CEO Aprameya Radhakrishna said.
Since taking over Twitter in a USD 44 billion deal in October, Elon Musk has sacked its employees, overhauled its moderation policies, put a price for account verification, and restored previously banned accounts including that of former US President Donald Trump.
In recent days, he suspended the accounts of several prominent journalists without warning who had been covering him, but had to reinstate the accounts following strong criticism from government officials, journalist organisations, and advocacy groups.
Koo, which allows users to express views in Indian languages, has already crossed 50 million downloads and is now flying into the rival's nest, starting a campaign to woo Twitter users, offering self-verification and a free-of-cost yellow verification tag for eminent persons.
And now, it has offered to migrate any tweet, excluding replies, likes or resharing of someone else's tweet, to Koo to escape "intellectual assassination" resulting from Twitter account suspension, he said.
"A lot has happened in the 45 odd days since the world's town square became one man's megaphone," Radhakrishna told PTI saying Twitter is now a "personal property of the world's smartest and richest man".
"If you are someone who speaks their mind and engages with others in discussion and debate - a suspension essentially means that you lose access to years of creativity, ideas, connections and insights," he said.
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Radhakrishna said Koo has devised a simple and elegant solution to escape this "blackhole". "Just migrate to Koo!" "Within the settings, a simple and elegant button allows you to migrate all your Tweets to Koo."
"Just click on the migrate button, follow the simple on screen instructions and all your tweets are ported to your Koo account seamlessly."
All historic original tweets will get migrated to Koo, he said. Also, all accounts that the migrating user may be following on Twitter, and if available on Koo, can be followed by a simple click.
However, followers of the migrating Twitter user will not get migrated unless they also shift to Koo.
"You can look up your friends and followers on Koo and start engaging with them," he said.

Nigerian government that has stopped using Twitter opened account on India's homegrown microblogging website Koo. Koo CEO Aprameya Radhakrishna posted on Twitter a welcome message along with a screenshot of the Nigerian government's account on Koo.
Koo is considered to be India's alternative to Jack Dorsey's Twitter that finds itself embroiled in battles over information technology rules.
The Nigerian government has suspended Twitter &lsquo;indefinitely&rsquo; in the African nation two days after the microblogging website removed President Muhammadu Buhari&rsquo;s tweets threatening violent action against regional secessionists. Twitter had removed the President&rsquo;s tweets as it violated the company&rsquo;s &lsquo;abusive behaviour&rsquo; policy.

Nigerian government banned Twitter, now on India's Koo

Nigeria government banned Twitter, now on India's Koo

- Nigeria bans Twitter,&nbsp;joins Indian microblogging platform Koo - Govt of Nigeria creates official account on Koo - Move comes after standoff between Nigerian govt&nbsp;&amp; Twitter - Nigeria banned Twitter&nbsp;after it removed President Buhari&rsquo;s tweets -&nbsp;Twitter had removed President&rsquo;s tweets over &lsquo;abusive behaviour&rsquo; policy

Nigerian government that has stopped using Twitter opened account on India's homegrown microblogging website Koo. Koo CEO Aprameya Radhakrishna posted on Twitter a welcome message along with a screenshot of the Nigerian government's account on Koo.
Koo is considered to be India's alternative to Jack Dorsey's Twitter that finds itself embroiled in battles over information technology rules.
The Nigerian government has suspended Twitter &lsquo;indefinitely&rsquo; in the African nation two days after the microblogging website removed President Muhammadu Buhari&rsquo;s tweets threatening violent action against regional secessionists. Twitter had removed the President&rsquo;s tweets as it violated the company&rsquo;s &lsquo;abusive behaviour&rsquo; policy.

India's Twitter alternative,&nbsp;Koo&nbsp;has raised $30 million from new investors raising its valuation from $25 million in February to $150 million.
The financing round was led by Tiger Global Management. Mirae Asset, IIFL&rsquo;s venture capital fund and existing investors also participated in the round.&nbsp;
The capital infusion comes at a time when social media platforms, including the US-based Twitter, are facing increased government scrutiny over alleged non-compliance with India&rsquo;s new social media rules. Koo has complied with the rules.

India's Twitter rival Koo raises $30 million; valuation jumps 6x

India's Twitter alternative,&nbsp;Koo&nbsp;has raised $30 million from new investors raising its valuation from $25 million in February to $150 million.

India's Twitter alternative,&nbsp;Koo&nbsp;has raised $30 million from new investors raising its valuation from $25 million is February to $100 million.
The financing round was led by Tiger Global Management. Mirae Asset, IIFL&rsquo;s venture capital fund and existing investors also participated in the round.&nbsp;
The capital infusion comes at a time when social media platforms, including the US-based Twitter, are facing increased government scrutiny over alleged non-compliance with India&rsquo;s new social media rules. Koo has complied with the rules.

India's Twitter alternative,&nbsp;Koo&nbsp;has raised $30 million from new investors raising its valuation from $25 million in February to $150 million.
The financing round was led by Tiger Global Management. Mirae Asset, IIFL&rsquo;s venture capital fund and existing investors also participated in the round.&nbsp;
The capital infusion comes at a time when social media platforms, including the US-based Twitter, are facing increased government scrutiny over alleged non-compliance with India&rsquo;s new social media rules. Koo has complied with the rules.

After Kangana Ranaut&rsquo;s Twitter account was permanently suspended on Tuesday, founders of the 'Koo' app have welcomed the actress to their platform.
Stating that it was 'like her home', they welcomed the 'Thalaivi' actress to voice her opinions with pride on their site.
Kangana was banned by Twitter for repeated violations of rules, specifically its 'Hateful Conduct and Abusive Behaviour policy'.

After Twitter ban Kangana Ranaut, Koo app welcome actress to express opinions

Founders of the Koo app welcome Kangana Ranaut 'home' after her Twitter account gets permanently suspended

After Twitter ban Kangana Ranaut, Koo app welcome actress to 'express opinions'

Koo app welcomes&nbsp;Kangana Ranaut after Twitter ban
It's your home, voice opinions with pride: Koo&nbsp;founders
Kangana banned from Twitter for 'hate speech'
&nbsp;

After Kangana Ranaut&rsquo;s Twitter account was permanently suspended on Tuesday, founders of the 'Koo' app have welcomed the actress to their platform.
Stating that it was 'like her home', they welcomed the 'Thalaivi' actress to voice her opinions with pride on their site.
Kangana was banned by Twitter for repeated violations of rules, specifically its 'Hateful Conduct and Abusive Behaviour policy'.

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