February 29, 2024
1 min read

Dailyhunt Eyes Koo Acquisition

According to TechCrunch, citing sources, the deal is expected to be finalised “within weeks” and involves a share-swap agreement….reports Asian Lite News

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.

In a statement to IANS, Dailyhunt parent VerSe Innovation’s spokesperson said that they have no comment on recent speculations.

“Our focus remains on our core objectives,” the spokesperson added.

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.

ALSO READ: AirAsia Eyes Expansion

Previous Story

Startup Challenges Mount as ‘Poster Boys’ Tumble

Next Story

India’s Electronics Sector to Employ 4.5M Soon

Latest from Business

‘India’s Digital Hub Ascends’

The event also featured discussions on the Quad Partnership for Cable Connectivity and Resilience, reiterating commitments made during the July 1 Quad Foreign Ministers’ Meeting India’s growing role as a key digital

India’s Job Market Surges

With hiring levels on the rise, compensation is expected to increase by 12-15% in metro cities and by 18-22% in emerging cities India’s festive season this year is poised to create more

India Inc Eyes Upswing

Private equity (PE) remained comparatively stable in Q2, clocking 357 deals worth $7.4 billion — the second-highest volume since Q4 2022. However, deal values dipped on a quarter-on-quarter basis due to the

Apple Appoints Sabih Khan as New COO

Khan will take over from Jeff Williams, who is stepping down from the role this month and will retire later this year…reports Asian Lite News Apple has announced that Sabih Khan, an
Go toTop

Don't Miss

Very difficult phase: Jaishankar on Sino-India relations

Asked if the relationship with the West had improved as

Nepal takes up Darchula death issue with India

On Friday the local administration of Darchula district took up