Is Koo an abject failure? Platform seeks partners as funding

India's alternative to Twitter Koo is seeking a strategic partner that has a "distribution strength" as it moves into its "next phase," according to the co-founder amid a funding gap at the fast-growing startup co-founded by Accel, Tiger Global, and others.

In a LinkedIn post on Friday, Koo's co-founder Mayank Bidawatka stated that despite having raised over $50 million thus far, the startup originally intended to prioritize scaling. However, due to deteriorating market conditions, they were compelled to shift their strategy towards building a revenue-generating engine.

According to Tech Crunch, he wrote “From growing rapidly to cutting down on growth and proving unit economics, within 6 months of revenue experimentation, we took a 180-degree turn and proved that this is a real business,”

The social network is placing its bets on the concept that its strategy of embracing numerous local languages will enable the main app to connect more effectively with a wider audience. Over the past two years, the platform has drawn the interest of numerous Indian politicians and sports figures.

The post by Bidawatka follows reports in local media that Koo is facing financial difficulties and is looking for a strategic buyer. The Arc reported that Koo has reached out to several parties, including Microsoft.

According to mobile intelligence firm Sensor Tower, Koo, which is available in markets such as India and Brazil, has fewer than 1 million monthly active users on its app.