Rakesh Deshmukh Resigns as CEO of Indus OS, Owned by PhonePe

• ByStartupStory     |    January 2, 2024

Rakesh Deshmukh, co-founder of the PhonePe-owned app discovery platform Indus OS (now Indus Appstore), has resigned as its CEO after a decade-long tenure, marking his departure as the company readies for the launch of its Android mobile app marketplace, set to challenge Google’s Play Store.

Amid his departure, Deshmukh’s future plans remain undisclosed. Reflecting on his next steps, he shared on LinkedIn, “taking a moment to recharge and prepare for the next impactful journey.”

Expressing well wishes for Deshmukh’s future, a PhonePe spokesperson remarked, “We wish Rakesh the very best for his future endeavors. Akash, Sudhir, and the entire Indus team remain steadfast in their commitment to advancing the shared vision for the Indus Appstore, which Rakesh played a pivotal role in nurturing over the past decade.”

Deshmukh, who initiated Indus OS in 2013 alongside Akash Dongre and Sudhir Bangarambandi, has left Dongre as the Chief Product Officer and Bangarambandi as the Chief Technology Officer of Indus Appstore.

The company, known for its operating system focusing on Indian regional languages, forged partnerships with major Indian mobile brands like Samsung, Micromax, and Karbonn. It developed the Indus App Bazaar, supporting 12 Indian languages and accumulating over 200 million users in its lifetime.

Backed by investors such as Omidyar Network India, VenturEast, Samsung Ventures, JSW Ventures, and Titan Capital, Indus OS faced a prolonged legal battle before PhonePe’s acquisition in July 2022. By September 2023, reports surfaced regarding PhonePe’s intentions to open its mobile app store to Android developers, promising a zero percent fee on in-app purchases, contrasting with Google’s 15-30 percent fee.

Reflecting on his tenure, Deshmukh noted, “I was fortunate to work with Sameer Nigam (PhonePe co-founder) and learned a lot under his guidance. He is an exceptional team leader and shares the same belief in India’s Appstore as I do.”

Indus Appstore aimed to alleviate developer concerns, offering 24×7 support, dedicated account managers, and a platform that allows app listings in 12 Indian languages, alongside English. Notably, the platform onboarded prominent real-money game developers and established partnerships with Nokia and Lava to integrate the app store into their devices.

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