Koo app arose as an alternative for Twitter in 2020 and presently holds 4 million users as of February 2021. Aprameya Radhakrishna is the founder and CEO of KooApp.com and head office in Bengaluru, Karnataka moreover it was a made-in-India project, but 11% of the stake was under Chinese investors Shunwei Capital. Now the same stake of Chinese investors has been bought by former Indian cricketer Javagal Srinath, which makes the Koo completely Indian now.
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There were many participants in process of buying stakes from Shunwei Capital, which includes Former cricketer Javagal Srinath, BookMyShow Founder Ashish Hemrajani, Udaan co-founder Sujeet Kumar, Flipkart CEO Kalyan Krishnamurthy, and Zerodha Founder Nikhil Kamat.
Shunwei Capital was holding 11% stakes in Koo’s parent company Bombinate Technologies as pet Traxcn, which was then running a vernacular Q and A platform, Vokal.
Shunwei Capital’s founding partner and chairman Jun Lei is also the CEO of smartphone brand Xiaomi that has a 23% market share in India and owns a stake in internet startups like Sharechat, Zest Money, and Touch talent, WeWork India, and Hungama among others. Both Shunwei capital and Xiaomi also have a combined stake in firms such as Zomato, Meesho, Loan Tap, and Kuku FM.
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