New Delhi, February 28: Media firm Dailyhunt is in the advanced stages of talks to acquire homegrown microblogging platform Koo, a media report said on Wednesday. According to TechCrunch, citing sources, the deal is expected to be finalised "within weeks" and involves a share-swap agreement.

Founded in 2020, Koo is owned by Bengaluru-based Bombinate Technologies. The company was founded by Aprameya Radhakrishna and Mayank Bidawatka and is often considered to be India's version of Elon Musk's X. When reached, Dailyhunt did not immediately comment. CleverTap Partners With Zoomcar To Drive Customer Engagement and Drive Business Growth on Its App.

In September last year, Bidawatka said that the company is looking to "partner with someone who has the distribution strength to give Koo a massive user impetus and help it grow". In a LinkedIn post, he mentioned that the next phase for Koo is to "build scale and that will happen with either funding or through a strategic partnership with someone who already has scale" in the "current reality of a slow investor market". Fitness-Tech Startup FITTR Unveils Its FITTR HART Smart Ring in India To Monitor Health Vitals.

In April last year, Koo said that it had let go of 30 per cent of its workforce over the course of the year amid the current global meltdown. The company had told IANS that it is important for businesses of all sizes to adopt efficient and conservative approaches to see this period through.

(The above story first appeared on LatestLY on Feb 28, 2024 12:34 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website