Koo is a made-in-India microblogging platform that aims to allow users to express themselves in Indian languages. The app interface is available in several regional languages including Hindi, Telugu, Kannada, Tamil, Marathi and more. Koo has gained significant popularity recently as a homegrown alternative to platforms like Twitter. But who exactly owns and operates Koo? Let’s find out.
The Founders
Koo was founded in March 2020 by Aprameya Radhakrishna and Mayank Bidawatka.
Aprameya Radhakrishna is an entrepreneur based in Bengaluru, India. He graduated from the National Institute of Technology Karnataka (NITK) in Surathkal with a degree in Mechanical Engineering. Previously, Aprameya co-founded the tax filing platform TaxiForSure which was later acquired by Ola Cabs in 2015. After exiting TaxiForSure, Aprameya conceptualized Koo as a microblogging platform for Indian language users.
Mayank Bidawatka is Koo’s other co-founder. He also studied at NITK Surathkal and later obtained a management degree from the Indian School of Business (ISB). Mayank has experience working at companies like McKinsey, Myntra, and Flipkart. At Koo, he handles product and technology.
Early Funding
Koo was bootstrapped by Aprameya and Mayank during its initial days. They self-funded the app’s development and handled all operations on their own.
In March 2020, Koo raised its seed funding round of an undisclosed amount from 3one4 Capital – an early stage VC firm. This funding enabled the founders to accelerate growth and refine Koo’s product.
Gaining Traction
Initially, Koo saw slow organic growth. But its popularity exploded in January 2021 after some government figures in India encouraged users to switch to homegrown microblogging platforms.
In February 2021, Koo raised $4.1 million in Series A funding led by Accel Partners, Kalaari Capital, and Blume Ventures. Existing investors 3one4 Capital also participated. This brought Koo’s total funding to $4.6 million.
The fresh funds were used to strengthen engineering, product and community efforts across all Indian languages at Koo. The user base also expanded rapidly crossing over 3 million users.
Investment by Tiger Global
In April 2021, Tiger Global led Koo’s $30 million Series B funding round. Tiger Global is a New York based investment firm known for backing global tech giants like Facebook, LinkedIn, Spotify, Twitter and more.
Other participants in this round were existing backers Accel Partners, Kalaari Capital, Blume Ventures and Dream Incubator. IIFL and Mirae Assets also invested for the first time in Koo.
This round valued the 16-month old startup at over $100 million. The funds are being used to strengthen engineering and product capabilities. Koo plans to have over 100 million downloads soon.
Partnership with Adani Group
In May 2021, India’s Adani Group said it will invest an undisclosed amount in Koo – less than a month after Tiger Global’s investment. Adani Group was founded by India’s richest man Gautam Adani.
Adani Group’s investment is part of Koo’s ongoing Series B round. The exact stake to be picked up was not disclosed. But the investment signals growing confidence of institutional Indian investors in homegrown startups.
Current Ownership Structure
As of September 2022, Koo is owned by parent company Bombinate Technologies Pvt Ltd. Bombinate Technologies is incorporated in India and headquartered in Bengaluru.
Here is the ownership breakdown of Bombinate Technologies:
Investor | Ownership Stake |
---|---|
Founders – Aprameya Radhakrishna & Mayank Bidawatka | 30-35% |
Tiger Global | 25-30% |
Accel Partners | 15-20% |
Kalaari Capital | 10-15% |
Blume Ventures | 5-10% |
3one4 Capital | 5-10% |
Dream Incubator | 5-10% |
IIFL | 1-5% |
Mirae Assets | 1-5% |
Adani Group | Undisclosed |
The founders together hold the highest stake in Bombinate followed by leading investor Tiger Global. The remaining ownership is split between other institutional investors who have funded Koo over its journey. Adani’s stake is not yet known.
Valuation
Koo was valued at over $100 million in April 2021 after Tiger Global’s investment. The company’s valuation may have increased further given its strong growth momentum since then. However, the latest valuation is not publicly available.
User Base
As per reports, Koo had over 6 million users in July 2021. This number went up to 15 million users by January 2022.
Aprameya Radhakrishna said in May 2022 that Koo has surpassed 40 million downloads with about 85% of users based in India. The platform aims to reach 100 million users soon.
Language Support
Koo is available in 8 Indian languages – Hindi, Kannada, Tamil, Telugu, Assamese, Bengali, English and Marathi.
Koo has stated that they will expand language support to all 22 official Indian languages. The company wants to boost vernacular language adoption of digital platforms in India.
Controversies
Koo has faced some controversies during its exponential growth phase:
– **Security lapses**: In 2021, ethical hackers pointed out bugs related to user data leaks on Koo. The platform fixed those loopholes and maintained that user data was always safe.
– **Bias allegations**: Some reports accused Koo’s leadership of promoting right-wing ideology. Koo denied these claims of bias.
– **Plagiarism charges**: Koo’s logo and interface were initially quite similar to Twitter. Some people alleged brand plagiarism by Koo, but this sentiment faded as Koo’s brand identity evolved.
Future Plans
Going forward, Koo plans to:
– Enhance technology to support content moderation at scale
– Expand language support to all Indian languages
– Build innovative features like ability to record audio comments
– Ramp up hiring across engineering, product, growth teams
– Expand Koo Kids as a safe platform for children
– Launch Koo Pro for influencers and businesses
– Grow user base in India as well as expand globally
Conclusion
Koo is a proudly Indian microblogging platform founded and owned by Bombinate Technologies. The founders Aprameya Radhakrishna and Mayank Bidawatka hold the highest stake in the company followed by leading investors like Tiger Global. Koo has raised over $34 million so far and is currently valued at over $100 million. Within 2 years, Koo has gained strong traction with over 40 million downloads. The platform aims to drive digital inclusion in India by supporting vernacular languages. Koo’s future looks bright as it charts on a high growth trajectory.