Koo, the Indian microblogging app, has stopped paying salaries to its employees from April 2024 due to financial issues. Employees were informed about this month during a Zoom call, which left some feeling unsettled. The company stated that they are not planning to lay off employees despite a significant reduction in headcount since 2022. Some senior employees had already left earlier in the year due to a substantial pay cut, as per media reports.
Koo faced challenges in establishing a sustainable revenue model and failed to secure Series C commitments, despite having notable investors. The company relied heavily on spending cash to acquire new users, leading to a decline in active users. As a result, discussions about potential acquisition options, including talks with Dailyhunt, have been ongoing.
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