BENGALURU: Kothe homegrown microblogging alternative for Xis looking for new financing or a strategic partnership to stay on track during a financing winter.
Company co-founder Mayank Bidawatka said in a LinkedIn post on Friday: “The next phase for Koo is building scale and that will be done with financing or through a strategic partnership. With the current reality of a sluggish investor market, the best way forward is to partner with someone who has the distribution power to give Koo a huge user boost and help it grow.”
He indicated that the company is in discussions with potential partners. Bidawatka wrote that the delay in funding forced the company to focus on generating revenue earlier this year. “While our stable state plan focused on scaling more before generating revenue, Koo was also caught in this unfortunately sour market timing and had to shift from a growth trajectory to a revenue-generating engine,” he said. According to media reports, the site has seen a decline in the number of users.
Company co-founder Mayank Bidawatka said in a LinkedIn post on Friday: “The next phase for Koo is building scale and that will be done with financing or through a strategic partnership. With the current reality of a sluggish investor market, the best way forward is to partner with someone who has the distribution power to give Koo a huge user boost and help it grow.”
He indicated that the company is in discussions with potential partners. Bidawatka wrote that the delay in funding forced the company to focus on generating revenue earlier this year. “While our stable state plan focused on scaling more before generating revenue, Koo was also caught in this unfortunately sour market timing and had to shift from a growth trajectory to a revenue-generating engine,” he said. According to media reports, the site has seen a decline in the number of users.
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