2024-07-04 04:17:15
The entry of the Indian social media platform Koo comes at a time when the conflict between the Government of India and Twitter was going on. In such a situation, the Koo app makes its entry. It is claimed that the Koo app can compete with Twitter. Most of the Union Ministers of the country create accounts on the Koo app. This was the time when today’s X platform was known as Twitter.
The merger could not succeed
After this, Elon Musk buys Twitter and plans to give paid blue tick. At such a time, to compete with X, Koo app issues yellow tick to users for free, so that more and more users can be added to Koo app. Koo app gets good response in the beginning. However, Koo app is unable to keep itself strong amidst global competition. Also, Koo app faces difficulty in getting funding. In such a situation, Koo app tried to merge with DailyHunt. However, this plan also could not reach fruition, after which Koo app’s co-founder Aparameya Radhakrishna and co-founder Mayak Bidawatka have announced the closure of Koo app.
Long term investment needed
According to Radhakrishna, a platform like Koo requires long-term investment and the investment cannot give immediate returns. Koo app received an investment of $66 million, after which its valuation has reached $275 million. But despite this, the app did not remain profitable for long.
This is how it started
Before starting the Koo app, Radhakrishna started his own ride hailing company TaxiForSure, which was acquired by Ola in 2015. Mayak Bidawatka used to be an employee of this company TaxiForSure.