The media company Dailyhunt is in advanced talks about acquiring Koo, a social media platform.
The arrangement includes a share-swap option and may be finalized in a matter of weeks. TechCrunch was the first to report on the news.
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“I had alluded to a strategic partnership that would help us grow organically. Over the past few months, we have been talking to multiple partners who could help us achieve this,” Mayank Bidawatka, cofounder, Koo, said in a LinkedIn post.
On LinkedIn, Bidawatka stated, “Our responsibility towards a wider community of stakeholders (users, creators, VIPs, investors, policy makers, media) forces us to not share anything prematurely while we’d like to say more.”
“Requesting your patience till we can share more concrete details of this partnership that will help Koo take wings in an organic manner and help challenge global competitors in a meaningful way,” he added.
Bidawatka stated that the business was looking for a strategic partner in September of last year.
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About Koo
Koo was launched in March 2020 by Aprameya Radhakrishna & Mayank Bidawatka and has now become the 2nd largest multi-lingual microblogging platform available to the world.
