AppsDaily is dead. The Mumbai-based company, according to an investor report accessed by The Ken, is currently in the process of selling off its assets to repay its dues. The mobile protection (insurance and anti-virus) company, which was one of the first to pioneer the online to offline (O2O) strategy in India, stopped operations a few months ago, according to former employees.
AppsDaily was founded in 2008 by brothers Arun and Ajay Menon. Over the last nine years, it raised almost $30 million from marquee investors such as Kalaari Capital, Ru Net, Qualcomm Ventures and Zodius Technology Fund.