Koo to shut down as partnership talks fail
Founder Aprameya Radhakrishna said that the microblogging platform will cease operations following unsuccessful negotiations for sale or merger with companies like DailyHunt
After debuting in the US and other countries to much fanfare, Koo has folded its wings and will be ceasing operations.
Koo Founder Aprameya Radhakrishna shared the same over a LinkedIn post. According to media reports, this move comes on the back of unsuccessful negotiations for a potential sale or merger with companies like DailyHunt.
"Our partnership talks fell through and we will be discontinuing our services to the public. We explored multiple talks with media companies, conglomerates and media houses but these talks didn't yield the results we wanted, " the company shared in a statement.
According to Radhakrishna, most of these companies did not want to deal with user generated content and the wild nature of a social media company. A lot of them even changed priorities close enough to signing the deal.
"While we would have liked to keep the app running the cost of technological services to keep a social media app running is high and we had to take this tough decision."
exchange4media has reached out to Koo and is awaiting comment.
