Home Business India’s X Alternative, Koo, Shuts Down Due to Funding Shortages
BusinessNews

India’s X Alternative, Koo, Shuts Down Due to Funding Shortages

246

Koo, India’s local alternative to X (formerly Twitter), has announced its shutdown, leaving millions of users stranded. Launched in 2020, Koo offered a multilingual platform supporting over 10 Indian languages and gained prominence in 2021 amid a dispute between the Indian government and X.

The conflict began when Prime Minister Narendra Modi’s administration asked X to block accounts accused of spreading misinformation. X initially complied but later restored the accounts. This led to threats of legal action against its employees in India. The situation drove many government supporters and officials to migrate to Koo, boosting its downloads to 20 million by the end of 2021.

Despite this initial success, Koo struggled to secure sufficient funding. Founders Aprameya Radhakrishna and Mayank Bidawatka cited a prolonged funding crisis and high technology costs as primary reasons for the shutdown. Efforts to form partnerships with larger companies and media houses failed. Acquisition talks with news aggregator Dailyhunt did not also materialise.

In April 2023, Koo laid off 30% of its workforce due to financial losses. The founders expressed regret over the closure but explained that the costs of keeping the platform operational were unsustainable.

Read more: India: 87 People Confirmed Dead In Stampede At Religious Event

EU Imposes Heavy Tariffs on Chinese Electric Vehicles To ‘Level Competition’

About The Author

Related Articles

Human RightsNews

Speed Darlington Granted Bail After a Month in Detention

Popular rapper, Darlington Achakpo, widely known as Speed Darlington, has been granted...

Peter Obi Labour Party
News

Stampedes: Restriction on Palliative Distribution Will be Counterproductive –Peter Obi

Peter Obi, 2023 presidential candidate of the Labour Party has criticised the...

Interior Minister, Tunji-Ojo
News

FG Declares December 25, 26, and January 1 as Public Holidays

The Federal Government of Nigeria has announced public holidays on Wednesday, December...

Mali suspends TV5 Monde
News

Mali Government Gains Control Over Key Agricultural and Development Bank

Malian government has acquired majority stake of the National Agricultural Development Bank...