Micro Blogging Site Koo; Chinese investor in Koo’s parent firm on way out | Chinese company Shunwei will be out of Ku, will sell its entire stake

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New Delhi9 minutes ago

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  • Ku has been downloaded over 30 million times in India so far
  • The app is available in many Indian languages ​​including Hindi, Kannada, Tamil, Telugu, Gujarati and Marathi

The Chinese investor is venturing out after selling his stake in the parent company of Ku, a domestic microblogging site recently discussed. Co-founder and CEO of Koo, Aparamay Radhakrishna said that other investors have expressed a desire to buy 9% stake in Chinese investors.

Indeed, Koo gained popularity following a tussle between the Indian government and Twitter. Since then Ku has been downloaded more than 30 lakh times in India and it has more than 10 lakh active users. Koo is available in several Indian languages ​​including Hindi, Kannada, Tamil, Telugu, Gujarati and Marathi.

Now there is no Chinese investor in the company- Radhakrishna
Ku’s investors include Essel Partners, 3 One 4 Capital, Bloom Ventures and Kalari Capitals. Apart from these, global venture capital company Shunwei related to China has invested in Koo’s parent company Bombinet. Radhakrishna said that Shunwei had invested in another app vocal of the parent company. Ku did not even begin then.
Shunwei has invested in several companies in India, including Bombinet. Radhakrishna said that Ku is now becoming part of the national sentiment, in such a situation Ku should now have Indian investors.
Recently, Bombinet has raised $ 41 million and no Chinese investor has participated in this round of investment. In fact, we are making sure that there is no Chinese investor in the company anymore.

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Who will buy stake currently not confirmed
He said that now many new investors wanting to buy shares are coming up, in such a situation, we had requested Shunwei to sell the part, which he has accepted. Radhakrishna has not yet clarified who is going to buy Shunwei’s share. However, he hoped that with all necessary clearances, the exit of the Chinese investor will be completed soon.

Government is preparing to make Ku App the main medium of contact
The government may soon make the Kuo app the main medium of connectivity. It is being told that the government will give the necessary updates, information 1-3 hours in advance. However, information will also be posted on Twitter after this. Several government departments including the Ministry of Electronics and IT, Ministry of Railways have made their presence known on Ku.

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