Indus App Bazaar stated the pandemic and the ban on Chinese apps have helped drive site visitors on the indigenous app store, serving to it flip operationally worthwhile forward of goal.
“We set ourselves the target of turning profitable by 2021 and have already achieved it. The pandemic and ban on Chinese apps have both brought about a significant shift in the overall landscape,” chief govt Rakesh Deshmukh stated.
The firm has change into worthwhile on the idea of earnings earlier than curiosity, tax, depreciation and amortisation, and has an annual recurring income of $10 million, he stated.
Indus OS claims to have greater than 100 million customers. It monetises the app retailer by charging apps for premium placement on the web page in addition to promotional actions.
Set up in 2015, it’s a multilingual digital platform geared toward growing consumption of digital content material in regional languages. It has partnerships with cell phone manufacturers like Samsung, Karbonn and Micromax for its app retailer. The firm would proceed to pursue related partnerships with smartphone producers, Deshmukh stated.
The app retailer is offered in 12 regional languages aside from English, and doesn’t require any electronic mail register to obtain apps.
First-time customers don’t discover it simple to navigate the play retailer and nearly 40% of the downloads on Android telephones don’t occur by way of the play retailer, Deshmukh claimed. “There is a language barrier for a lot of first-time users and they need an email ID to start downloading apps, which is also an issue,” he added.
During the pandemic, the app retailer noticed a surge in downloads of gaming apps, adopted by leisure, social media, training and ecommerce functions.
Deshmukh stated the power to find and devour content material in native languages was a giant issue that was serving to drive development for the corporate.
India is estimated to have about 500 million cell phone customers, of which 100 million have used the app retailer. As smartphone penetration will increase within the nation and extra customers make the swap from the function cellphone, offering them entry to content material and apps in their very own language will probably be an vital development driver for platforms corresponding to Indus OS. At current, the best variety of customers on the app retailer are in Maharashtra and Uttar Pradesh, adopted by Gujarat, West Bengal and Karnataka.
Indus would have a look at constructing related app shops for different international locations as a part of a worldwide growth technique, however Deskhmukh stated that may occur solely after a number of years. For now, the agency is specializing in rising its presence in India.
In June cellular commerce options agency Affle stated it had acquired an 8% stake in OSLabs, which operates Indus App Bazaar, for $2.86 million (Rs 21.three crore). Other buyers within the firm embody Samsung, VenturEast and JSW Ventures.
The app retailer has greater than 400,000 apps and is India’s largest unbiased app retailer. 24Global News