An interesting microblogging platform announced a funding of USD 10 million
A microblogging platform has raised funds. What an interesting piece of news it is!
Let us talk about the microblogging platform and its industry. First of all, we should know what is a microblogging platform. It can be defined as the online broadcast medium that has its existence as a specific form of blogging. It is different from the traditional way of blogging in a way that it is small in size. It provides the users a platform to have an exchange of small content like short sentences, video links, or individual images.
The small messages posted are given the name of micro-posts. A micro-blogger can post about anything be it how he is feeling today? Or what he is doing right now? There also exist commercial bloggers who engage themselves in the promotion of websites, services, products in the collaboration with companies and organizations.
One of the most prominent examples of a microblogging platform is Twitter. The application of Twitter provides a platform for the users a quick and convenient way to share posts that are short in length, GIFs, videos, article links, and many others. Then another example is Pinterest. Companies prefer linking their products and services on Pinterest so that useful information can be shared with the audience and the readers. The other big names in the list of microblogging sites are Tumblr, Instagram, Linkedln, and many others.
Let us now talk about the funding of a microblogging startup that has taken place recently and has spread far and wide.
Announcement of funding of a microblogging platform
The microblogging platform startup, Koo App has raised funds worth USD 10 million, as announced on February 27, 2022. This round of funding that has taken place saw the participation of various investors. Some of the investors on the list were Capsier Venture Partner, Ravi Modi Family Trust, Ashneer Grover, FBC Venture Partners, Adventz Finance, and many others.
The startup last year had announced its Series B round of funding. The investors in that round of funding were Tiger Global, Accel Partners, and Blume Ventures. In January 2022, the startup had allotted CCPS to the tune of INR 28 crore. It later went along with the same issue to raise INR 51 crore.
About the microblogging platform that has announced its funding
The startup, Koo App was founded in the year 2020 by Aprameya Radhakrishna and Mayank Bidawataka. The startup regards itself as the voice of the country, India. The startup is a micro-blog in Indian languages. The startup is here to help Indians express themselves in the easiest way possible with the objective of democratizing their voice, sharing their thoughts in text, audio, or video.
Many of the big names in the country are the users of this application. “Koo is the home to the voices of India”.
The startup has plans to maintain its focus on the market of the country, where it will be aiming to onboard more and more users. The startup is also planning to make its entry into one new market in Southeast Asia after June 2022. The startup is currently looking for places like Indonesia, Malaysia, and the Philippines to enter into, as it finds these places as the most promising. But no final decision has been made regarding it, as the startup will be studying different markets and then making a final decision.
The forte, which is the winning point of the startup has always been that it offers the experience of microblogging in the local languages of the country. In October 2021, the user base of the startup had reached 15 million. When asked about the countries which the startup is planning to enter, the co-founder of the startup, Aprameya Radhakrishna made a statement which said that the main point which is looked at before entering into any country is whether that country has any important local language which is connected to their community and culture.
The startup has seen amazing and rapid growth. The startup is making sure that whatever the country celebrates whether it is language or culture should be expressed on Koo.
The startup is taking care of all the different languages and cultures of the country. This is a commendable job and we should support it with open arms and heart. We wish the startup a stroke of good luck and pray it achieves success as it moves forward taking care of every part of the country!
Edited and published by Ashlyn Joy