Koo, India’s answer to social media giant ‘X’ has finally closed operations. The decision has been disclosed by Mayank Bidawatka, cofounder of Too on LinkedIN. In a post thanking users for the support and wishes, Bidwatka said: “It takes a lot to euthanize something you built with so much love. Koo will always have a very special place in my heart for trying to challenge global giants at their game. We can and we should. May be next time. Till then, the little yellow bird says its final goodbye.”
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He also shared a note by cofounder Aprameya Radhakrishna stating the reasons for shutting the platform down. The founders state that they had explored partnerships with multiple larger internet companies, conglomerates and media houses, which failed to yield any results. “Most of them didn’t want to deal with user generated content and the wild nature of a social media company,” said the post while adding that a couple of the companies backed out close to signing the deals.
He also stated that the year 2023 was extremely difficult, and that they were also hit by a funding winter. “A prolonged funding winter which hit us at our peak hurt our plans at the time and we had to tone down on our growth trajectory. Social media is probably one of the toughest companies to build even with all resources available as you need to grow users to a significant scale before one thinks of revenue. We needed 5 to 6 years of aggressive, long term and patient capital to make this dream a reality,” added Radhakrishna in the post.
Industry Leaders Share Learning from Koo Failure
Several industry leaders, while expressing remorse about its failure, stated that Koo lacked innovation and the only unique feature it boasted about was the fact that it was “Made in India”. “Sad to see what happened with Koo. We need Indian social platforms but recreating what already exists won’t get us there. I believe future of social is going to be open and based on DPI principles. But as Mastadon shows, that alone will not be enough,” said Bhavish Aggarwal, founder, Ola.
Viewers were also quick to note that Koo, which had received massive popularity and support from Indian politicians on the hinds of the Indian Government’s showdown with Twitter, failed to make most out of its initial fame. Popular language enthusiast and author Amit Schandillia said: “Jingoism, however spirited, is no substitute for innovation. You cannot copy-paste an existing app down to the most barest of essentials, bring nothing to the table other than “Made in Bharat,” and expect miracles in user acquisition. Koo didn’t die, it just never lived.”
Mehul Fanawala, founder of The Clueless Company, went on to share that companies need to remember apart from launching the product, there needs to be a plan in place to sustain them as well. “Koo shutting down brings several thoughts to my mind. We often get caught up in the race of instant success, especially in the tech world. But, innovation isn’t just about launching a product; it’s about sustaining and evolving it over time,” he said while sharing the following three learnings for companies:
- The lesson here is to continuously adapt and listen to users. If the feedback loops are ignored, even the best ideas can falter.
- It’s also a stark reminder that not every venture will succeed even in booming markets. What matters is the ability to pivot, learn, and try again.
- This incident highlights how crucial financial literacy and sound business models are. Without a strong foundation, growth can be deceptive and temporary.
“Entrepreneurship isn’t just about winning; it’s about enduring the journey, learning from each stumble, and building something resilient,” added Fanawala.
