Dailyhunt to acquire India's X alternative Koo: Report

economictimes.indiatimes.com:

DailyHunt is in advanced stages to acquire Indian start-up Koo, TechCrunch reported citing sources on Wednesday.
The deal may be finalised in as many as three weeks, the report said. Koo, which has been touted as an alternative to social media platform X, which was previously known as Twitter.

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Koo founder Mayank Bidawatka in September 2023 had said that the company was looking for fundraising opportunities or tie-up with a strategic partner that would help the company scale-up its operations.

«The next phase for Koo is to build scale and that will happen with either funding or through a strategic partnership with someone who already has scale,» he said. With a platform that is scale ready, Koo can outshine competitors with the right push on growth, Bidawatka had claimed then.

“We still believe that a microblog built for the native language speakers is the most inclusive way to take microblogging to the larger world. 80% of the world speaks a native language, other than English, and they too deserve a language first platform to express themselves and connect better,” he said.

Bidawatka said Koo’s initial “stable state” plan was to scale more before generating revenue, but it got caught in “sour market timing” and had to switch gears from a growth trajectory to a