Indian social media app Koo, once seen as a rival to micro-blogging platform X, is shutting down, its founder, Aprameya Radhakrishna, said in a post on LinkedIn on Wednesday. The founders' decision comes after several rounds of talks for a potential sale or merger with multiple companies, including Dailyhunt, failed, people aware of the matter said. “Patient, long-term capital is essential to build ambitious, world-beating products from India, be it in social media, Al (artificial intelligence), space, EV (electric vehicle) or other futuristic categories," Radhakrishna said in a joint post along with cofounder Mayank Bidawatka. “It will need a lot more capital when the space has a global giant already.” “And when one of these companies takes off, it can't be left to the whims of the capital market, which goes up and down. It needs a strategic outlook to safeguard it and make it thrive,” Radhakrishna said in the post. “These aren't to be looked at as profit churning ma