MENU SEARCH
Tags: Media | Dailyhunt | Koo | Technology | Business

Dailyhunt in Talks to Acquire Microblogging Platform Koo: Report

Dailyhunt in Talks to Acquire Microblogging Platform Koo: Report

Wednesday, 28 February 2024

Media firm Dailyhunt is in the advanced stages of talks to acquire homegrown microblogging platform Koo, a media report said on Wednesday.

According to TechCrunch, citing sources, the deal is expected to be finalised "within weeks" and involves a share-swap agreement.

Founded in 2020, Koo is owned by Bengaluru-based Bombinate Technologies.

The company was founded by Aprameya Radhakrishna and Mayank Bidawatka and is often considered to be India's version of Elon Musk's X.

When reached, Dailyhunt did not immediately comment.

In September last year, Bidawatka said that the company is looking to "partner with someone who has the distribution strength to give Koo a massive user impetus and help it grow".

In a LinkedIn post, he mentioned that 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" in the "current reality of a slow investor market".

In April last year, Koo said that it had let go of 30 per cent of its workforce over the course of the year amid the current global meltdown.

The company had told IANS that it is important for businesses of all sizes to adopt efficient and conservative approaches to see this period through.

© 2024 IANS. All rights reserved.

Newsfront
Media firm Dailyhunt is in the advanced stages of talks to acquire homegrown microblogging platform Koo, a media report said on Wednesday.According to TechCrunch, citing sources, the deal is expected to be finalised "within weeks" and involves a share-swap agreement.Founded...
Media, Dailyhunt, Koo, Technology, Business
208
2024-52-28
Wednesday, 28 February 2024
Newsmax Media, Inc.
 
TOP

Newsmax and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax India are trademarks of Newsmax Media, Inc.

NEWSMAX.IN
Real News for Real People
© Newsmax Media, Inc.
All Rights Reserved