PhonePe in talks to accumulate Indian app retailer Indus OS – TechCrunch
Walmart-backed Indian funds companies agency PhonePe is in superior phases of talks to accumulate Samsung-backed Indus OS, a startup that operates an eponymous third-party Android app retailer, a supply accustomed to the matter instructed TechCrunch.
The deal values Noida-headquartered Indus OS at $60 million, the supply stated, requesting anonymity because the matter is non-public. The deal has but to shut. PhonePe and Indus OS didn’t instantly reply to a request for remark.
Indian information outlet Entrackr first reported concerning the improvement.
Indus OS powers a number of in style third-party Android shops together with Samsung’s Galaxy Retailer and gives companions with localized content material and apps.
Late final yr, Indus OS stated it provided its companions 400,000 apps in English and 12 Indian languages. The seven-year-old startup, which has raised about $21 million so far and monetizes by advertisements, has amassed over 100 million customers.
The startup plans to launch an app retailer for particular person customers as soon as Google begins accepting third-party app shops, one other supply accustomed to the matter stated.
It stays unclear why PhonePe is curious about Indus OS’ providing. The Bangalore-based startup has lengthy provided its personal mini app retailer on its app. A handful of companies — together with PhonePe rival Paytm — have both launched or explored launching their very own mini app shops in current months.