Koothe Indian rival of Twitter is the most recent corporate to enroll in the record of tech layoffs, The social networking platform has reportedly fired a 3rd of its team of workers in fresh months because it failed to lift finances.
As reported through Bloomberg, the microblogging platform has brushed aside 30% of its 260 staff. “The global sentiment right now is more focused on efficiency than growth and businesses need to work toward proving unit economics,” a spokesperson for the corporate informed Bloomberg.
The Bengaluru-based corporate benefited so much from Twitter’s spat with the Indian government. In the new months many executive officers, Bollywood celebrities and cricket stars all joined Koo. Nevertheless, the prevailing problem of acquiring money coincides with a global decline within the era sector and decreased funding job, leading to important drops in valuations for prior to now a hit startups.
The corporate has additionally presented some toughen to the brushed aside staff through giving repayment programs, extending well being advantages and support find new jobs, added the record.
Koo just lately presented loyalty program
Recently, Koo presented a Koo loyalty program. Users can earn cash and redeem them to buy pieces and products and services at a reduced worth. Users of Koo now give you the option to obtain Koo cash day by day in accordance with their stage of engagement with the app, in addition to thru referrals to friends and family.
These cash will also be exchanged for unique provides from more than a few manufacturers, similar to the techniques presented through different cost apps reminiscent of Google Pay and Cred. In addition to Koo cash, Google Pay supplies rewards for making bills in the course of the app, whilst Cred provides customers Cred cash that can be utilized to make discounted purchases from the to be had variety. However, Cred’s method differs moderately because it does now not be offering direct rewards.
As reported through Bloomberg, the microblogging platform has brushed aside 30% of its 260 staff. “The global sentiment right now is more focused on efficiency than growth and businesses need to work toward proving unit economics,” a spokesperson for the corporate informed Bloomberg.
The Bengaluru-based corporate benefited so much from Twitter’s spat with the Indian government. In the new months many executive officers, Bollywood celebrities and cricket stars all joined Koo. Nevertheless, the prevailing problem of acquiring money coincides with a global decline within the era sector and decreased funding job, leading to important drops in valuations for prior to now a hit startups.
The corporate has additionally presented some toughen to the brushed aside staff through giving repayment programs, extending well being advantages and support find new jobs, added the record.
Koo just lately presented loyalty program
Recently, Koo presented a Koo loyalty program. Users can earn cash and redeem them to buy pieces and products and services at a reduced worth. Users of Koo now give you the option to obtain Koo cash day by day in accordance with their stage of engagement with the app, in addition to thru referrals to friends and family.
These cash will also be exchanged for unique provides from more than a few manufacturers, similar to the techniques presented through different cost apps reminiscent of Google Pay and Cred. In addition to Koo cash, Google Pay supplies rewards for making bills in the course of the app, whilst Cred provides customers Cred cash that can be utilized to make discounted purchases from the to be had variety. However, Cred’s method differs moderately because it does now not be offering direct rewards.