Source: IE
Context: Koo, the Indian social media platform created to rival Twitter, is shutting down due to unsuccessful deals with larger companies and media houses.
- Launched in 2020, Koo gained popularity during a conflict between the Indian government and Twitter.
- Koo offered features similar to Twitter, supported multiple Indian languages, and attracted prominent users, including politicians and celebrities.
- However, the company faced increasing losses, declining active users, and weak global sentiment, leading to the layoff of around 30% of its workforce in 2023.
About Zombie Start-ups:
“Zombie start-ups” refer to companies that, while technically still in operation, are struggling to grow, innovate, or generate significant revenue.
These businesses are often stuck in a state of stagnation, unable to attract further investment or reach profitability, yet they continue to exist due to prior funding or minimal operational costs.
