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Media startup Dailyhunt is in advanced stages of talks to acquire the Bengaluru-headquartered social network Koo, two sources familiar with the matter told me.<\/p>\n
The potential deal under discussion involves a share-swap agreement and could be finalized within weeks, the sources added, requesting anonymity as the matter is private.<\/p>\n
The deliberation follows Koo, which has sought to become a Twitter rival<\/a>, aggressively hunting for new capital throughout last year. The social network, available in India and Brazil<\/a>, is betting on the idea that its approach of supporting multiple local languages will help the eponymous app resonate broadly with the larger masses.<\/p>\n Koo co-founder Mayank Bidawatka said in September that the startup \u2014 which has raised over $60 million from investors including Tiger Global, Accel, 3One4 Capital, Mirae Asset and Blume \u2014 was looking to find a strategic partner<\/a> with a \u201cdistribution strength\u201d for its \u201cnext phase\u201d of journey.<\/p>\n \u201cFrom growing rapidly to cutting down on growth and proving unit economics, within 6 months of revenue experimentation, we took a 180 degree turn and proved that this is a real business,\u201d he wrote.<\/p>\n Dailyhunt, which was last valued at $5 billion, and Koo declined to comment.<\/p>\n<\/p><\/div>\n