Koo has received investments from Silicon Valley Investors Naval Ravikant and Balaji Srinivasan
Bengaluru: In what can be seen as a shot in its arm, Koo, India’s purported answer to Twitter has received investments from Silicon Valley Investors Naval Ravikant and Balaji Srinivasan, Swarajya reports.
It is reported that Ravikant and Balaji Srinivasan, invested in the company last month.
It is to be noted that Tiger Global is also in talks to invest.
“We are constantly in touch with various financial investors who are interested in partnering with our vision. We do not want to comment on any speculation,” Koo co-founder and CEO Aprameya Radhakrishnan, was quoted as saying.
"There is space for a neutral or right leaning social media network. People want to sometimes have simple interactions within their own circles and echo chambers. Koo can provide that. And the founders have shown the ability to build, so investors will always be interested," an investor tracking the company was quoted as saying.
A group of Indian industrialists bought out Shunwei Capital's 9 per cent stake in Bombinate Technologies Private Limited, the parent company of Koo and Vokal a few days earlier.
The entrepreneurs who invested in Koo include BookMyShow founder Ashish Hemrajani, Flipkart CEO Kalyan Krishnamurthy, Udaan co-founder Sujeet Kumar, Zerodha founder Nikhil Kamat and former Indian cricketer Javagal Srinath.
The value of financial dealings was not made available.
Responding to why he invested in Koo, Javagal Srinath had said as an Indian he wholeheartedly endorsed a platform that was bringing the voices of Indian language audiences onto the internet.
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Last Updated Apr 3, 2021, 3:57 PM IST