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
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.
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.
