Koo Social App In Acquisition Talks With Media Firm Dailyhunt

Media firm Dailyhunt is reportedly in talks with Koo, an X-like social app popular in India and Brazil, to negotiate a potential acquisition.

According to its latest valuation, Dailyhunt is worth $5 billion, and its parent firm VerSe Innovation reaches upwards of 300 million users in India through its short-video and news aggregator platform Josh.

Social network Koo seeks to become a leading rival to X. It’s betting on its approach of supporting a range of local languages to appeal to an increasingly larger user base. Currently, it’s available in India and Brazil, with a global expansion in the works.

The app is prioritizing its search for more capital to support its growth strategy, raising over $60 million from investors as of last September, according to its co-founder Mayank Bidawatka.

At the time, Bidawatka shared Koo’s goal of finding a strategic partner with a “distribution strength” for the “next phase” of its journey.

While unable to share more details right now, Bidawatka hints at the partnership in a recent post, saying it “will help Koo take wings in an organic manner and help challenge global competitors in a meaningful way“.

“Indian digital products are being made to international standards and it’s time to create global brands from India.”

To learn more about Koo, visit its website here.