US: Yahoo has announced that it will close down location-based social network Koprol at the end of August, less than two and a half years after it bought the Indonesia-headquartered social network for an undisclosed sum. “The time has come to say goodbye to Yahoo! Koprol,” Yahoo said in a press release posted on its website.
The US tech giant bought Koprol developer SkyEight two and a half years ago. At the time, the service had 75,000 registered users and offered Indonesians a way to post photos, restaurant reviews and status updates with location-specific tags. Yahoo had hoped that Koprol would catch on like Foursquare did in the US.
Yahoo Southeast Asia’s managing director Yvonne Chang had previously described the relationship as “love at first sight,” explaining that the company planned to expand Koprol to 38 markets worldwide.
By 2011, Koprol had blossomed to include 1.5 million users across Southeast Asia.
But that didn’t save the social networking site from the chopping block.
“In line with Yahoo’s focus on more quickly innovating with our core products and properties, over the coming quarters, we are shutting down or transitioning a number of products that did not meaningfully drive revenue or engagement,” the company said in a press release.
Source: The Jakarta Globe