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DailyHunt in talks to acquire homegrown app Koo
Mayank Bidawatka, founder, Koo, had announced in September 2023, that Koo was looking for fundraising opportunities or tie-up with a strategic partner, in order to help scale its operations.
Koo gained prominence in 2021 after several ministers endorsed it amid a row between the Indian government and X, which was then known as Twitter.
News content aggregator DailyHunt is in advanced stages to acquire Koo, an Indian startup and a microblogging platform, which was touted as an alternative to X, formerly known as Twitter. The deal is likely to be finalised in as many as three weeks, ET stated in a report.
Mayank Bidawatka, founder, Koo, had announced in September 2023, that Koo was looking for fundraising opportunities or tie-up with a strategic partner, in order to help scale its operations.
In 2o23, Koo had integrated OpenAI’s ChatGPT to help users in creation of posts.
Dailyhunt was established in 2009 under the name Newshunt. The Bengaluru-headquartered content startup underwent a rebranding in 2015. The platform gathers content from newspapers and websites in various Indian regional languages such as Marathi, Gujarati, Tamil, and Bhojpuri, highlighted the ET report. In FY23, DailyHunt had reported a revenue of Rs 1,809 crore.
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