While Koo claims it came close to beating X (formerly Twitter) in India within six months, the current market conditions have now forced it to explore strategic partnerships or funding. What led the company into this predicament? Here’s the story, pieced together from conversations with industry insiders, brands, users, and digital-marketing executives.
Mayank Bidawatka, co-founder of Koo, wrote a long LinkedIn post on September 15 addressing reports about the homegrown microblogging platform’s struggles to raise funds and how it is exploring merger and acquisition (M&A) options. He had a few points to make: Koo was caught up in the funding winter, when only break-even or early-stage startups were “lucky” enough to raise funds, that too at low valuations or heavy markdowns.If it had just “6
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