Koo fires 30% workforce over the course of the year, citing tough market conditions & global slowdown

"We are a young startup with a long way ahead of us. The global sentiment right now is more focused on efficiency than growth and businesses need to work towards proving unit economics," said the spokesperson.

The statement further stated, "It's important for businesses of all sizes to adopt efficient and conservative approaches to see this period through."

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Since its inception, the company claims to have clocked over 60 million app downloads and is looking to become profitable with monetisation experiments. Koo spokesperson said, "As history has proven, there will be better times for all of us collectively."