Sad for Koo but recreating what already exists won’t work: Ola CEO

Ola Cabs founder Bhavish Aggarwal took to X recently to give his 2 cents on the recent shutdown of the Indian microblogging site, Koo. He said although indigenous startups are needed but the originality of the idea must be prioritised. He added that replicating existing ideas won't lead to success. 

“Sad to see what happened with Koo. We need Indian social platforms but recreating what already exists won’t get us there.” Aggarwal wrote on X.

He added that stating that replicating existing ideas won't lead to success. 

Aggarwal also expressed his belief that the future of social platforms will be open and based on DPI principles but noted that this alone may not be sufficient.

Aggarwal added, “I believe future of social is going to be open and based on DPI principles. But as @joinmastodon shows, that alone will not be enough.

Any thoughts?” 

Sad to see what happened with Koo. We need Indian social platforms but recreating what already exists won’t get us there.

I believe future of social is going to be open and based on DPI principles. But as @joinmastodon shows, that alone will not be enough.

Any thoughts?

— Bhavish Aggarwal (@bhash) July 3, 2024

Social Media Reaction:

Social media users are reacting positively to Aggarwal’s suggestion and critique of Koo and similar Indian startups.

One user wrote: “Absolutely. Good products need to being good value to retain users. People will not always support something just because it is Indian. It is deep rooted within us to opt for something international. Because in our minds imported = better.”

Another user commented, “Echo chambers & copy paste jobs are not the solution. 

There needs to be innovation.”

A third user replied: “rather we need influence over the current platforms and Indian  sovereign wealth funds or something alike to invest heavily into these companies not just as a investment but also as to gain influence in boards.”

Koo Logs Off For All Users:

Koo, a 4-year-old Indian alternative to Twitter, is reportedly shutting down after unsuccessful acquisition talks with Dailyhunt. Koo expanded to Nigeria and Brazil, raised $57 million, and reached a peak valuation of $285.5 million. Despite its achievements, the microblogging site is facing closure.

The co-founders Aprameya Radhakrishna and Mayank Bidawatka announced the closure of the platform on LinkedIn due to unsuccessful partnership talks and high operating costs. 

"We explored partnerships with multiple larger internet companies, conglomerates, and media houses, but these talks didn’t yield the outcome we wanted," the note said. 

The duo stated, "the cost of technology services to keep the social media app running is high, and we've had to take this tough decision."