Once considered to rival the biggest microblogging site X (formerly Twitter), Koo, the Indian social media platform has announced to pull the plug once and for all in a surprising turn of events. Co-founders Aprameya Radhakrishna and Mayank Bidawatka shared the news on LinkedIn, through a joint statement saying, “Our partnership talks fell through and we will be discontinuing our service to the public.”
Koo’s journey began in 2020, and it quickly rose to prominence in 2021 during a contentious period between the Indian government and X. The platform became a refuge for Indian politicians and public figures seeking an alternative to the American giant. Despite its promising start, a lack of funding and the high costs associated with maintaining the app have led to its demise.
The platform, which had raised over $60 million from investors such as Tiger Global and Accel, had been in discussions for a potential acquisition by Indian news aggregator Dailyhunt. However, these talks ultimately did not materialise. “We explored partnerships with multiple larger internet companies, conglomerates, and media houses, but these talks didn’t yield the outcome we wanted,” the founders stated.
Koo’s distinctive appeal lay in its support for multiple Indian languages, catering to a diverse user base that included prominent figures like Piyush Goyal, Ravi Shankar Prasad and Anil Kumble. The app’s features, such as “Talk to Type” and hashtag categorisation, drew direct comparisons to X.
In a recent post, Bidawatka reflected on the challenges the platform faced, noting, “The cost of technology services to keep a social media app running is high.” This financial strain was exacerbated by what the founders described as a “prolonged funding winter.” The company had also made significant international strides, logging over 1 million downloads within 48 hours of its launch in Brazil.
Despite its successes, including winning the Atmanirbhar App Innovation Challenge, Koo struggled to maintain momentum. The platform had laid off around 30% of its workforce in April 2023 amid increasing losses and declining user engagement.
The founders expressed their gratitude to their supporters, team, investors, and users, stating, “Our team stuck around with us through thick and thin all along the way. We are very fortunate to have worked with such a passionate bunch of folks who believed in the purpose of our company.” They also hinted at future entrepreneurial ventures, saying, “As for us, we are entrepreneurs at heart and you will see us back in the arena one way or another.”
As Koo bids farewell, the founders remain optimistic about the potential of their assets, hoping they can contribute to India’s digital landscape. “We will be happy to share some of these assets with someone with a great vision for India’s foray into social media,” they concluded.
Koo’s shutdown marks the end of a notable chapter in India’s tech industry, leaving behind a legacy of ambition, innovation, and the relentless challenges of competing in the global social media arena.
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