Truecaller hits 300 million monthly active user milestone
Caller identification firm Truecaller has announced that it has crossed a milestone of 300 million monthly active users on November 21, up from 250 million users in October last year.
India is the largest market for the Swedish firm with over 220 million monthly active users, up from 178.1 million users as of September last year.
“Over the past decade, we have worked hard to make Truecaller the vital service that is used by so many and I am humbled by the trust that so many millions of users put in our platform,” says Alan Mamedi, CEO and co-founder of Truecaller. “We have a clear strategy to continue growing our company by developing the product to enhance the user experience and thereby welcome even more users in the future,” he added.
Founded in 2009 by Mamedi and Nami Zarringhalam, Truecaller initially offered call identification and spam blocking features to its users but has subsequently expanded its offerings with features such as Smart SMS, Inbox Cleaner, Full-Screen Caller ID, Group Voice Calling, and others.
Truecaller also earns the majority of its revenues from India. It clocked revenues of around $25 million (214 million Swedish Krona) in Q3 2021, registering a 111 percent increase on a yearly basis. India contributed about 68.3 percent of the company’s Q3 2021 revenues that stood at $36.48 million (312.8 million Swedish Krona).
Truecaller went public in October 2021 by listing its Class B shares on Nasdaq Stockholm. Founders Zarringhalam and Mamedi intend to control a majority of the company’s voting power through their ownership of the firm’s high-vote Class A shares.
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