Twitter clone Koo draws Tiger Global at $100-125 Mn valuation

Twitter clone Koo draws Tiger Global at $100-125 Mn valuation

author-image

Madhav Chanchani

105 reads
author-image

Aditi Shrivastava

22 reads
author-image

Madhav Chanchani

105 reads
author-image

Aditi Shrivastava

22 reads

Koo has won the attention of Silicon Valley investors including Naval Ravikant and Balaji Srinivasan with its proposition of monetizing Indian language speakers. But it may need a ‘TikTok moment’ to give it a boost

April 01, 2021

8 Min Read

New York-based Tiger Global Management is in advanced discussions to lead a $25-30 million funding round in Koo, the microblogging platform that gained prominence after the Indian government’s spat with Twitter, said three people involved in the talks.

Naval Ravikant, an early investor in Twitter and Clubhouse, and crypto evangelist Balaji Srinivasan are also in discussions to back the Indian language microblogging platform. Their investments are expected to close before the Tiger Global round. 

The Tiger Global investment is expected to value Koo’s parent Bombinate Technologies at $100-125 million, a 4x increase from its $27 million valuation in February when it raised money from its existing backers.

“Tiger Global has issued a term sheet and is expected to invest around $15 million in the round,” said one of the persons mentioned above. Koo is expected to rope in another institutional investor as well, this person said, declining to provide more details.

THE UPSHOT

Investors are lapping up Indian social media platforms like Koo not because of the popularity of Twitter or Facebook, but encouraged by the successes of the likes of China's Weibo

Bombinate, which also owns Vokal, an Indian language audio-based version of Quora, has raised $12 million so far from Kalaari Capital, 3one4 Capital, Blume Ventures, Accel, and other investors, according to Tracxn. 

The company is also executing a round of secondary sale to clear up the stake China-based Shunwei Capital owns in it.

Koo CEO Aprameya Radhakrishna and Tiger Global both declined to comment on detailed queries.

share

Share this read

bookmarklike
like
bookmark
share
share-button
like-button
share-button

LatestStories

E-commerce

Premium Reads

No billion-dollar baby: Why social, video and reseller commerce players are changing course

By Aditi Shrivastava

IPO

the-crux

Delhivery’s IPO gambit pays off (kinda); Coinbase-RBI spat

By Madhav Chanchani

Investments

Premium Reads

From unicorns to early-stage startups, everyone is downsizing ambitions

By Aditi Shrivastava

HealthTech

Premium Reads

Decoding insurtechs’ big bet on wellness

By Supriya Roy

Logistics

Premium Reads

Impending divorce: How Shiprocket’s relationship with delivery partners imploded overnight

By Payal Ganguly

For subscribers only

Premium Reads

>>

View More >>

Deeply reported and objective news on the country´s fastest-growing companies and the people behind them.