The domestic microblogging site Koo app, which was recently discussed in the ongoing controversy between the Government of India and Twitter, is now going to be a completely self-sufficient Bharat app. According to media reports, China’s investor in Koo’s parent company is exiting from selling its stake. A top official of the company gave this information to news agency PTI on Tuesday.
Koo co-founder and CEO (CEO) Aprameya Radhakrishna said that other investors have expressed a desire to buy 9 percent stake in Chinese investors. Let us know that Koo has received a lot of discussion after the tussle between the Indian government and Twitter. Since then Koo has been downloaded more than 3 million times so far and has more than 1 million active users.
Koo’s investors include Accel Partners, 3one4 Capital, Blume Ventures and Kalaari Capital. Apart from these, China-based global venture capital company Shunwei has invested in Koo’s parent company, Bombinate Technologies. Radhakrishna, co-founder of Koo App, told PTI that Shunwei had invested for Vokal, another app from the parent company. Koo didn’t even debut then.
Radhakrishna explained that ever since the company focused its attention on Koo, Shunwei is committed to exit the parent company. He said that in 2018, when he started with the question-and-answer app Vokal, Shunwei showed interest in him, a big Chinese investor in the content sector. He said that Shunwei had invested in several companies in India and Bombinate was one of them. He further said that from 2018 till now Koo was started as an experiment and gained popularity.