While social media platforms such as WhatsApp and Twitter have been locking horns with the Indian government over social media regulations proposed to tackle fake news and unverified users, Koo has quietly gone on to make India prouder.
Koo is an Indian microblogging site that is now valued at over $100 million. The current valuation was realized after the company secured a fresh $30 million funding in a Series C round on May 26.
The latest funding round was led by major global investor Tiger Global and joined by IIFL and Mirae Assets as well. Koo’s existing investors Accel Partners, Kalaari Capital, Blume Ventures, and Dream Incubator also participated in the round, displaying their continued belief in the brand.
Koo stands out for being a platform that allows content to be created in various Indian languages. However, in the face of the Indian government’s latest social media regulations, Koo is one of the few platforms which are fully compliant with the norms.
In an interview with ET NOW, Aprameya Radhakrishna, co-founder, and CEO of Koo said, “Being an India registered company, complying with regulations of the Indian government is a no-brainer for us. The government’s guidelines are very user-centric and they make social media, the internet, and Koo, a safe place for users.”
As Koo continues to build and evolve to serve India’s diverse demography, its management is also tirelessly making plans for the company’s overseas expansion.
In a statement released after the Series C-funding round, the company stated, “We have aggressive plans to grow into one of the world’s largest social media platforms in the next few years. Every Indian is cheering for us to get there soon.” In addition, Koo intends to utilize the $30 million funding it has received to strengthen its engineering, product, and community efforts across all Indian languages.
Koo has grown organically from three million downloads to six million downloads in two months; but when public figures such as Anupam Kher, Mary Kom, and Piyush Goyal are on the platform, it isn’t hard to understand why.
