Tiger Global-backed Koo Fires 40 Workers Due to Funding Shortage
- ByStartupStory | September 2, 2022
Koo, a microblogging platform, has laid off people throughout its operations to cut expenses and streamline operations. While the company did not provide a specific figure, this comes at a time when the industry is experiencing a capital constraint, particularly in the growth and later stages. A Koo representative acknowledged the layoffs but did not identify the actual number, claiming it was lower than reported by a media outlet. Koo now has a workforce of over 360 people.
Around 40 individuals were laid off from operational and back-end teams, primarily in Delhi and Northern Region locations, according to an Inc42 report. As Koo is now experiencing tremendous expansion, the company’s workforce has been simplified to fit current business requirements, according to a Koo representative.
“Koo is rapidly expanding as we proudly steer digital inclusion for native language speakers.” We recently passed a big milestone of 45 million downloads, which has increased tenfold in the last two months. “The expansion of our firm is mirrored in our personnel strength of 350+ persons,” the representative stated.
“We continue to seek talent, particularly for engineering and machine learning teams,” the representative stated. Our personnel has been trimmed to ensure that it is in line with current business needs. “As a people-first company, we value each of our employees’ talent and talents, which are critical to developing Koo, India’s most liked social media company, and propelling us to 100 million downloads.”
Aprameya Radhakrishna and Mayank Bidawatka founded Koo in 2020 as a desi vernacular alternative to the worldwide microblogging site Twitter. Tiger Global, Accel Partners, Kalaari Capital, Blume Ventures, Dream Incubator, IIFL, and Mirae Assets are among Koo’s investors.
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