Social media startup Koo is shutting down its service after long negotiations for an acquisition failed. Koo is a company that came out as a homegrown alternative to X (formerly Twitter).

Many big internet companies have tried for start-up partnerships with media houses etc. But none of these discussions yielded results. Koo co-founders Apramaya Radhakrishna and Mayank Bidawatka clarified these things in a LinkedIn post.

'The cost of technical services to run a social media app is high, so we had to take this tough decision,' says Aprameya Radhakrishnan.

In September 2022, the outside world came to know about the crisis in Koo when about 40 employees were dismissed. Then, in February 2023, the co-founder warned employees that layoffs would continue. Shortly thereafter, in April of the same year, the company cut its workforce by 30 percent.

The number of monthly active users also fell to 3.1 million in April itself. Before that, in January, active users were 4.1 million. and decreased to about 3.2 million in March. The highest number of users was in July 2022. It was 9.4 million then.

Since then, the company has been in talks with startups like DailyHunt and ShareChat. But those negotiations did not succeed. Although the number of users coming to the platform decreased over time, another reason why Koo had to shut down the firm was its failure to manage its monthly payments.