Chinese investors in Indian parent Koo’s parent company on Twitter are on the way out. Co-founder and CEO of Koo App, Upremya Radhakrishna said that other investors have asked to buy their 9% stake present. The Kuo app gained popularity after the Indian government’s tussle with Twitter for removing inflammatory tweets. The app has more than three million downloads and has about one million active users.
Invested in 2018
Ku’s investors include Accel Partners, 3one4 Capital and Kalari Capital. Apart from this, global venture capital company Shunwei is also an investor in Bombinate Technologies, the parent company of Ku. Shunwei Capital is led by a partnership team, which includes people of Chinese origin. It had invested in an app named Vokal, a previous product of Bombinate.
Radhakrishna said that ever since the company has focused its attention on Koo, Shunwei is committed to exit the company. He said that in 2018, when he started with the question-answer app Vokal, Shunwei showed interest in him, who was a big Chinese investor in the content sector. Shunwei had invested in several Indian companies and Bombinate was one of them.
He further said that from 2018 till now Koo was started as an experiment and gained popularity. He had no idea that national spirit would become a product and he should not take money from any place other than Indian. No one has questioned Vokal. It is about Ku. He said that when the investment took place, Ku was not present.
What is Koo?
It is a microblogging platform like Twitter. It is available as a website and on iOS and Google Play Store. You can post your thoughts publicly here and can follow other users as well. Posts from other users are visible in a feed. Here the character limit is 400. A person can sign up for Ku using his mobile number. Users also have the option to link their Facebook, LinkedIn, YouTube and Twitter feeds to Kuo profile.