Chinese investor exits social media app Koo, Javagal Srinath among Indian investors who bought stake
Synopsis
A group of Indian industrialists bought Shunwei Capital's 9 per cent stake in Bombinate Technologies Private Limited, the parent company of Koo and Vokal, for an undisclosed amount.
Chinese investor Shunwei Capital has cashed out of Koo which is being touted as India's alternative to Twitter.
A group of Indian industrialists bought out Shunwei Capital's 9 per cent stake in Bombinate Technologies Private Limited, the parent company of Koo and Vokal.
The entrepreneurs who invested in Koo include BookMyShow founder Ashish Hemrajani, Flipkart CEO Kalyan Krishnamurthy, Udaan co-founder Sujeet Kumar, Zerodha founder Nikhil Kamat and former Indian Cricketer Javagal Srinath.
The value of financial dealings was not made available.
Responding to why he invested in Koo, Javagal Srinath said as an Indian he wholeheartedly endorsed a platform that was bringing the voices of Indian language audiences onto the internet.
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