The Indian social media platform Koo is shutting down after acquisition talks with Dailyhunt fell through.
Despite securing over $60 million in funding from prominent investors like Tiger Global and Accel, Koo faced significant challenges in expanding its user base and generating revenue over the past year.
TechCrunch exclusively reported in February that Koo was engaging with Dailyhunt, an internet media startup valued at $5 billion, for a potential sale.
Koo sought to win users by giving them a X-like platform where they could express themselves in multiple local languages. The startup also had also expanded its eponymous app to Brazil.
“We explored partnerships with multiple larger internet companies, conglomerates and media houses but these talks didn’t yield the outcome we wanted,” Koo founders Aprameya Radhakrishna and Mayank Bidawatka wrote in a LinkedIn post Wednesday.
