Indian competitor Koo quits down following unsuccessful acquisition negotiations

"To construct ambitious, world-beating products from India, whether in social media, Al, space, EV, or other futuristic categories, patient, long-term finance is necessary. When a global powerhouse already exists in the space, a lot more capital would be required, as stated by cofounder Mayank Bidawatka and Radhakrishna in a joint post.

The founder of the Indian social media service Koo, Aprameya Radhakrishna, announced on LinkedIn on Wednesday that the app is closing down. Koo was formerly thought of as a competitor to the microblogging site X.According to people with knowledge of the situation, the founders' decision came after repeated rounds of negotiations failed to result in a possible sale or merger with several companies, including Dailyhunt.