Close on heels of news regarding shuttering of ‘Koo’, a microblogging site similar to Twitter (now X), came the news that Meta’s ‘Threads’, another such platform, had garnered 175 million followers.
In their parting note, the founders of 'Koo' said “partnership talks fell through with the large internet companies and media houses, who didn’t want to deal with user generated content and the wild nature of a social media company".
Without being privy to the respective strategies deployed by ‘Koo’ and ‘Threads’, one wonders if ‘Koo’ management reflected on the key use of this platform for its users, beyond just posting their thoughts on the same, and hoping that the same would get noticed by other users, thereby enabling them recognition and fame on this platform?
While as per media reports, ‘Koo’ was adopted by some well known personalities, it appears that their patronage could not sustain for long. It would have been ideal if this platform was positioned for serving as:
· A key communication channel between those personalities and their followers/admirers. Furthermore, the opinions/feedbacks posted by such followers/admirers could have been summarized, and presented to the respective personalities, for their information and necessary action as required,
· An important channel to gauge the opinions/perceptions of some of the users, by some well known brands. Again posts by such users could have been summarized and presented to such brands periodically, which could have served as a valuable insights for their respective strategies,
· An important medium for some Startups, which could have used it to test their ideas among some users, thereby benefitting them as they navigated the tough market conditions,
· One of the key channels for Government bodies and public utilities, to make important announcements, and gauge responses from the public, which could have enabled them gauge the efficacy of their services, and applying correctives accordingly, and
· An important source for media houses including those from vernacular languages, which could have sourced some newsworthy content from posts from it's users etc.
Well, by adopting such strategies, ‘Koo’ could have gained some loyal patrons among some leading brands, startups, celebrities, public utilities, Government bodies, media houses etc. which could have resulted in a ‘snow-balling’ impact on its popularity, and user base, and which could have easily rivalled that of ‘X’ in India.
And, as in any other business – keeping their ‘hand on the pulse’ of their stakeholders, and applying correctives as and when deemed necessary, could have helped a lot.
With such strategies, and such loyal stakeholder categories as indicated above, which could have been an important source of it's revenue, the financial viability of ‘Koo’ could have catapulted it into a much desired acquisition, by some of the leading media houses etc. 😊
In their parting note, the founders of 'Koo' said “partnership talks fell through with the large internet companies and media houses, who didn’t want to deal with user generated content and the wild nature of a social media company".
Without being privy to the respective strategies deployed by ‘Koo’ and ‘Threads’, one wonders if ‘Koo’ management reflected on the key use of this platform for its users, beyond just posting their thoughts on the same, and hoping that the same would get noticed by other users, thereby enabling them recognition and fame on this platform?
While as per media reports, ‘Koo’ was adopted by some well known personalities, it appears that their patronage could not sustain for long. It would have been ideal if this platform was positioned for serving as:
· A key communication channel between those personalities and their followers/admirers. Furthermore, the opinions/feedbacks posted by such followers/admirers could have been summarized, and presented to the respective personalities, for their information and necessary action as required,
· An important channel to gauge the opinions/perceptions of some of the users, by some well known brands. Again posts by such users could have been summarized and presented to such brands periodically, which could have served as a valuable insights for their respective strategies,
· An important medium for some Startups, which could have used it to test their ideas among some users, thereby benefitting them as they navigated the tough market conditions,
· One of the key channels for Government bodies and public utilities, to make important announcements, and gauge responses from the public, which could have enabled them gauge the efficacy of their services, and applying correctives accordingly, and
· An important source for media houses including those from vernacular languages, which could have sourced some newsworthy content from posts from it's users etc.
Well, by adopting such strategies, ‘Koo’ could have gained some loyal patrons among some leading brands, startups, celebrities, public utilities, Government bodies, media houses etc. which could have resulted in a ‘snow-balling’ impact on its popularity, and user base, and which could have easily rivalled that of ‘X’ in India.
And, as in any other business – keeping their ‘hand on the pulse’ of their stakeholders, and applying correctives as and when deemed necessary, could have helped a lot.
With such strategies, and such loyal stakeholder categories as indicated above, which could have been an important source of it's revenue, the financial viability of ‘Koo’ could have catapulted it into a much desired acquisition, by some of the leading media houses etc. 😊
A year later, that is in November 2008, a headline in 'The Economic Times' read, "Don't buy a burger, buy a blue-chip instead." This summarized the depths to which our stock markets had sunk, post the collapse of 'Lehman Brothers', leading to severe financial crisis due to lack of confidence in the financial system.
Let's hope and pray that such history doesn't repeat itself now, even for different reasons. There are headwinds, especially by way of the forthcoming Presidential elections in the US, and fingers are crossed regarding the policies of the next government, irrespective of the political party in power. Trade policies and commitment to climate change are the two key areas which would be closely watched. It's ramifications would be felt around the world.
Similarly, with stalemate continuing in the Middle East, one can't be too sure if Israel gets too aggressive in getting it's hostages released from the captivity of Hamas, which can only worsen the situation.
And so on....
Let's hope and pray for the best 😊