Media startup Dailyhunt is in superior levels of talks to accumulate the Bengaluru-headquartered social community Koo, two sources conversant in the matter informed me.
The potential deal below dialogue entails a share-swap settlement and could possibly be finalized inside weeks, the sources added, requesting anonymity because the matter is personal.
The deliberation follows Koo, which has sought to change into a Twitter rival, aggressively trying to find new capital all through final yr. The social community, accessible in India and Brazil, is betting on the concept that its strategy of supporting a number of native languages will assist the eponymous app resonate broadly with the bigger lots.
Koo co-founder Mayank Bidawatka stated in September that the startup — which has raised over $60 million from buyers together with Tiger International, Accel, 3One4 Capital, Mirae Asset and Blume — was looking to find a strategic partner with a “distribution strength” for its “next phase” of journey.
“From growing rapidly to cutting down on growth and proving unit economics, within 6 months of revenue experimentation, we took a 180 degree turn and proved that this is a real business,” he wrote.
Dailyhunt, which was final valued at $5 billion, and Koo declined to remark.
