• Thu. Apr 11th, 2024


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Dailyhunt in talks to amass social community startup Koo

Dailyhunt in talks to amass social community startup Koo

Media startup Dailyhunt is in superior levels of talks to amass the Bengaluru-headquartered social community Koo, two sources acquainted with the matter informed me.

The potential deal beneath dialogue includes a share-swap settlement and may very well be finalized inside weeks, the sources added, requesting anonymity because the matter is personal.

The deliberation follows Koo, which has sought to change into a Twitter rival, aggressively trying to find new capital all through final yr. The social community, accessible in India and Brazil, is betting on the concept that its strategy of supporting a number of native languages will assist the eponymous app resonate broadly with the bigger plenty.

Koo co-founder Mayank Bidawatka mentioned in September that the startup — which has raised over $60 million from buyers together with Tiger World, Accel, 3One4 Capital, Mirae Asset and Blume — was seeking to discover a strategic associate with a “distribution energy” for its “subsequent part” of journey.

“From rising quickly to slicing down on progress and proving unit economics, inside 6 months of income experimentation, we took a 180 diploma flip and proved that this can be a actual enterprise,” he wrote.

Dailyhunt, which was final valued at $5 billion, and Koo declined to remark.

VerSe Innovation, the guardian agency of Dailyhunt, reaches greater than 300 million customers in India by way of its information aggregator platform and short-video app Josh. It raised a funding spherical of $805 million in April 2022 from buyers together with Canada Pension Plan Funding Board, Ontario Academics’ Pension Plan Board, Sofina Group and Baillie Gifford.

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