Founded in 2009 by Arun Menon and Ajay Menon, AppsDaily develops and markets mobile applications in India and abroad. It was started off as Onward Mobility and was later re-branded as AppsDaily. Its current products include mobile anti-virus, mobile insurance, back-up solutions, mobile privacy, mobile utilities and games, and are sold under the brand name ‘Daily’ such as Daily Cop, Daily Protect, Daily Assure and Daily Complete Security. AppsDaily, which says it has over two million customers, operates in more than 700 cities with more than 400 distributors and 10,000 outlets, as per information available on its website. AppsDaily is just like an FMCG company selling mobile apps which is called as FMDG – Fast Moving Digital Goods.
Prior to AppsDaily, Ajay Menon founded Ambrosia Infotech, a product engineering and consulting services provider. Arun Menon, who holds a B Tech degree in mechanical engineering from IIT-Bombay, has earlier worked at BillDesk and Tata Infotech. The duo established AppsDaily knowing fully-well, that the Smartphone was the vehicle, and mobile applications were the solution – to simplify and speed-up life. They have pivoted their vision on the growth of smartphones which is projected to reach over 500 million customers in India.
However, prevalent app channels and models were not customized for the Indian consumer – whose preferred mode of payment was cash, and preferred style of shopping was Do-it-for-Me. As a result, the mobile app market remains under-penetrated and under-served in India. This is when the founders have decided to take up this challenge head-on and help customers discover and buy mobile apps the way they buy almost anything – through Retail, the only channel to reach out to the mass audience. Their apps are packaged and sold as physical products, just like everything else.
Today, AppsDaily is the largest mobile app company in India and the largest retail channel for mobile apps in the world. It operates in 400+ cities, with more than 400 distributors and 10,000+ outlets – with more than 2500+ in store demonstrators. The company claims to have more than 2 million happy customers.
Recently, AppsDaily has secured $3.75 million from founders and existing investors. The company will use the fresh capital to finance growth plans. Talking about the recent investments, the chief executive and co-founder, Arun Menon said that, “We are very excited about the overall growth in the mobile protection and security market, which is driven by the strong surge in smartphone sales in the country, along with an increasing awareness among customers on mobile protection and security products. We believe India will be a huge market for mobile protection and security in 3-4 years.”
The company’s existing investors include Zodius Capital, Kalaari Capital, Qualcomm Ventures, Russian venture capital fund Ru-Net and Mumbai Angels. Till the date the company has raised a total of about Rs150 crore in earlier rounds of funding.