Social media platform Koo, which was once considered India’s alternative to Twitter, will shut down after deal talks failed, founder Mayank Bhidwatka said on Wednesday.
In a LinkedIn post, Bhidwatka said, “Our partnership talks fell through and we will be discontinuing our service to the public."
Koo was said to have been in deal talks with Dailyhunt for about four months which didn't fructify.
"We explored partnerships with multiple larger internet companies, conglomerates and media houses but these talks didn't yield the outcome we wanted. Most of them didn't want to deal with user-generated content and the wild nature of a social media company. A couple of them changed priority almost close to signing. While we would've liked to keep the app running, the cost of technology services to keep a social media app running is high and we've had to take this tough decision," Bhidwatka said.
#koo #kooapp #koofunding #cnbctv18 #businessnews #businessnewstoday #businessnewsinenglish #sharemarkettoday
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Koo, Touted As A Rival To Twitter In India, To Shut Down
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