Monday, July 15, 2024

Ola Electric CEO Bhavish Aggarwal Comments on Koo’s Closure

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Ola Electric CEO and founder of AI startup Krutrim AI, Bhavish Aggarwal, shared his thoughts on the shutdown of the Indian social media platform Koo. In a recent post on X, Aggarwal expressed his views on why Koo didn’t succeed.

Bhavish Aggarwal’s Statement

Aggarwal commented, “Sad to see what happened with Koo. We need Indian social platforms, but recreating what already exists won’t get us there.” He further added, “I believe the future of social is going to be open and based on DPI principles. But as @joinmastodon shows, that alone will not be enough.”

Netizens’ Reactions

Aggarwal’s post received mixed reactions from netizens. Some criticized his statement, pointing out the similarities between Ola and other ride-sharing apps. One user wrote, “Says someone who made a career by copying Uber/Lyft? Ironic, eh?” Another user questioned, “If the statement – ‘recreating what already exists won’t get us there’ – is TRUE, then how different is Krutrim? Isn’t it a recreation as well?” Another comment noted, “Koo built its reputation when Twitter was struggling. The game changed when Elon bought Twitter.”

Reasons Behind Koo’s Shutdown

Earlier this week, Koo’s CEO Aprameya Radhakrishna and co-founder Mayank Bidawatka announced the closure of the platform. Despite raising over $50 million from investors such as Accel, Mega Trust, 7Square Ventures, Dream Incubator, Tiger Global Management, Kalaari Capital, and 3one4 Capital, Koo was unable to secure a buyer or merge with another platform.

Founders’ Note

In their farewell note, the founders stated, “Our partnership talks fell through, and we will be discontinuing our service to the public.” They added, “We are entrepreneurs at heart, and you will see us back in the arena one way or another. Till then, thank you for your time, attention, good wishes, and love.” They concluded with, “The little bird says its final goodbye.”

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