His post came soon after media reported that VerSe Innovation, parent of media startup Dailyhunt, is in advanced talks to acquire the Bengaluru-headquartered social network Koo, which is touted as an alternative to X, formerly Twitter.
The potential deal involves a share-swap agreement and could be finalised within weeks, TechCrunch reported.
Taking to LinkedIn, Bidawatka said, “Our responsibility towards a wider community of stakeholders (users, creators, VIPs, investors, policy makers, media) forces us to not share anything prematurely while we’d like to say more.”
“Requesting your patience till we can share more concrete details of this partnership that will help Koo take wings in an organic manner and help challenge global competitors in a meaningful way,” he added.
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Citing the ongoing funding winter and disruption in the startup ecosystem, Bidawatka had hinted a few months ago that Koo is looking for a strategic partner.
“The next phase for Koo is to build scale and that will happen with either funding or through a strategic partnership with someone who already has scale,” he had said.
While Koo counts the likes of Tiger Global, Accel, and 3One4 Capital among its investors, VerSe Innovation has raised funds from the likes of Canada Pension Plan Investment Board and Sofina Group, and was last valued at $5 billion.
His post came soon after media reported that VerSe Innovation, parent of media startup Dailyhunt, is in advanced talks to acquire the Bengaluru-headquartered social network Koo, which is touted as an alternative to X, formerly Twitter.
The potential deal involves a share-swap agreement and could be finalised within weeks, TechCrunch reported.
Taking to LinkedIn, Bidawatka said, “Our responsibility towards a wider community of stakeholders (users, creators, VIPs, investors, policy makers, media) forces us to not share anything prematurely while we’d like to say more.”
“Requesting your patience till we can share more concrete details of this partnership that will help Koo take wings in an organic manner and help challenge global competitors in a meaningful way,” he added.
Discover the stories of your interest
Citing the ongoing funding winter and disruption in the startup ecosystem, Bidawatka had hinted a few months ago that Koo is looking for a strategic partner.
“The next phase for Koo is to build scale and that will happen with either funding or through a strategic partnership with someone who already has scale,” he had said.
While Koo counts the likes of Tiger Global, Accel, and 3One4 Capital among its investors, VerSe Innovation has raised funds from the likes of Canada Pension Plan Investment Board and Sofina Group, and was last valued at $5 billion.