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Media startup Dailyhunt is in superior phases of talks to accumulate Bengaluru-headquartered social community Koo, two sources acquainted with the matter informed me.
The potential deal below dialogue entails a share swap settlement and may very well be finalized inside weeks, the sources added, requesting anonymity as a result of the matter is non-public.
The deliberation follows Koo, which has sought to turn out to be a rival to Twitter, aggressively looking for new capital all through the final 12 months. The social community, accessible in India and Brazil, is banking on the concept that its strategy of supporting a number of native languages will assist the eponymous app resonate extensively with as many individuals as potential.
Koo co-founder Mayank Bidawatka mentioned in September that the startup – which has raised greater than $60 million from traders together with Tiger World, Accel, 3One4 Capital, Mirae Asset and Blume – was I’m on the lookout for a strategic companion with a “distribution pressure” for its “subsequent part” of journey.
“From rising quickly to scaling again and demonstrating unit profitability, in six months of income experimentation, we took a 180-degree flip and proved it was of an actual enterprise,” he wrote.
Dailyhunt, which was final valued at $5 billion, and Koo declined to remark.
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