Koo Needs Fresh Funding: Mayank Bidawatka, Co-founder, Koo 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, says Mayank Bidawatka, in a LinkedIn post
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The next phase for homegrown microblogging website Koo is to build scale through either funding or a strategic partnership, Mayank Bidawatka, co-founder of Koo said in a LinkedIn post.
"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. With the current reality of a slow investor market, the best way forward is to partner with someone who has the distribution strength to give Koo a massive user impetus and help it grow," Bidawatka posted.
Founded by Aprameya Radhakrishna and Bidawatka in 2020, Koo has raised over $65.7M from investors such as Tiger Global, Accel, Blume Ventures and was last valued at $285 million on June 16, 2022, as per latest data (September 13th 2023) available on Tracxn, a market intelligence data provider.
"Funding has come to a standstill and only near breakeven or early stage startups are lucky to raise funds, that too at low valuations/ heavy markdowns. While our stable state plan was to scale more before generating revenue, Koo too was caught in this unfortunately sour market timing and had to switch gears from a growth trajectory to a revenue generating engine. With just six months more on our trajectory, we would have beaten Twitter (now X) in India," the post added.