Yahoo! Returns Indonesia’s Koprol to Its Founders
Yahoo! has announced it will return the Indonesian social networking site Koprol to its founders, after deciding last month to permanently shut down the service at the end of August.
Yahoo! said in a press statement on Tuesday that the move meant all rights regarding Koprol’s brand and domain would be returned to its founders, Satya Witoelar, Fajar Budiprasetyo and Daniel Armanto.
“This good will indicates Yahoo!’s commitment and support to Indonesia’s Internet communities,” Yahoo! said in a statement, according to Indonesian news portal tempo.co.
In response to the statement, Satya said: “Yahoo! has worked together with us, and the result satisfies both sides. We’re really satisfied with this decision.”
On June 29, Yahoo! announced it would shut down Koprol by Aug. 28 after it laid off 2,000 employees in March. Yahoo bought Koprol in 2010 for an undisclosed sum, when 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 United States.
Yahoo Southeast Asia’s managing director, Yvonne Chang, had previously described her reaction to Koprol 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 it was not enough to 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,” Yahoo! said in a press release last month.