PicSee shuts down as Koo founder Mayank Bidawatka cites product-market fit challenges

Mayank Bidawatka, co-founder of social media platform Koo, has decided to shut down his AI-powered photo-sharing startup PicSee after concluding that the business had failed to achieve the scale required for a consumer social platform, as per a Moneycontrol report.The startup was unable to establish product-market fit, attract a meaningful acquisition opportunity or generate the network effects needed to sustain long-term growth.Launched in 2024, PicSee used artificial intelligence and facial recognition technology to organise photos stored on users' devices, identify friends appearing in those images and automatically share them once both users approved the connection.While the app attracted an initial set of users, Bidawatka said the business struggled to convince users' friends and family to join the platform—a critical requirement for social applications that depend on network effects. Without broader adoption, the product was unable to build the momentum required to scale.In the investor communication, Bidawatka also noted that a significant portion of early user acquisition came through paid advertising on Meta platforms, but many of those sign-ups failed to translate into meaningful engagement or revenue. He added that the company did not identify a compelling next direction for the product, leading the team to conclude that further investment would not materially improve its prospects.Also read: Varun Beverages buys Devyani Foods Kenya's dairy, juice and water business for Rs 305 croreThe startup had raised approximately ₹30-35 crore across two funding rounds from investors including General Catalyst, Blume Ventures, Athera and several angel investors.Rather than continue deploying capital in search of incremental growth, the company has decided to wind down operations and return an estimated 60-65% of the funds raised to investors. Bidawatka said institutional and angel investors would be treated on similar terms during the capital return process.PicSee marks Bidawatka's third startup venture. He previously co-founded media planning platform The Media Ant and business commerce platform Goodbox before launching Koo, the Indian microblogging platform that positioned itself as an alternative to X. Koo ceased operations in 2024 after facing challenges in achieving sustainable growth.