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Twitter Rival Koo Laid Off 15 Employees & Not 40 As Earlier Reported in the Media

New Delhi: Homegrown micro-blogging platform Koo on Tuesday mentioned that it has laid off 15 staff, or 5 per cent of its workforce, and never 40 as earlier reported in the media. In a recent assertion to IANS, the Twitter rival mentioned that 15 positions “have been made redundant or removed due to performance issues”. Twitter’s Edit Tweet Characteristic Launching Quickly; Right here’s How It Will Work.

“This is completely aligned with the industry standards of hiring and retrenchment. At the same time, Koo continues to hire talent in its monetisation, product and engineering teams,” an organization spokesperson mentioned.

The extra hires, mentioned Koo, will assist it gear up for the subsequent section of progress and monetisation. Aprameya Radhakrishna, Co-founder and CEO, Koo, was not too long ago in London for an trade occasion for Indian entrepreneurs. The corporate spokesperson mentioned that she “did not meet any funders or high net worth individuals (HNIs) in London and did not engage in any fundraising activity”.

Koo has raised $44.1 million to this point. The corporate mentioned it’s “well capitalised, is focused on growth and enhancing innovation, driving digital inclusion and attaining 100 million downloads”.

Launched in March 2020, Koo is at present obtainable in 10 languages — Hindi, Marathi, Gujarati, Punjabi, Kannada, Tamil, Telugu, Assamese, Bengali and English. Based on the platform, it has over 45 million downloads and is actively leveraged by 7,000 high-profile individuals from throughout the spectrum.

Koo is backed by Tiger World and early stage traders like Accel, Kalaari Capital, Blume Ventures and Dream incubator. In February this 12 months, Koo raised $10 million by way of Indian household places of work. The traders included Capsier Enterprise Accomplice, Ravi Modi Household Belief, Ashneer Grover, FBC Enterprise Companions, Adventz Finance and so forth, in response to regulatory filings.

(The above story first appeared on OKEEDA on Sep 06, 2022 01:00 PM IST. For extra information and updates on politics, world, sports activities, leisure and way of life, go online to our website latestly.com).

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