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<ul><li>India contributes 69% to <keyword id="1106616" type="General" weightage="20" keywordseo="truecaller" source="Orion">Truecaller</keyword>’s revenue, so even a minor impact coming from India could have larger implications for this Sweden-based company.</li><li>The <keyword id="2617070" type="General" weightage="20" keywordseo="personal-data-protection-bill" source="Orion">personal data protection bill</keyword> aims to ensure that personal data of Indian citizens is safeguarded and not stored overseas.</li><li>Truecaller claims to be the third largest communication platform in India, after Facebook and WhatsApp.</li></ul>Caller identification and spam blocking app Truecaller — which will soon go for an initial public offering (IPO) in Nasdaq Stockholm, Sweden — is worried that India’s personal <keyword id="4839724" type="General" weightage="20" keywordseo="data-protection-bill" source="Orion">data protection bill</keyword> may end up to be a business risk for the company. The<a href="https://www.businessinsider.in/tech/news/indias-new-data-protection-bill-makes-a-good-show-of-user-rights-but-can-it-deliver-on-its-promises/articleshow/81422687.cms"> personal data protection bill</a> is yet to be approved by the Indian parliament. Any data that can identify an individual — like names, addresses, financial information, IP addresses, cookies, device IDs and other data — are covered under the Personal Data Protection Bill, 2019. The bill includes requirement of notice and prior consent to use individual data, which limited the purpose for which the companies had processed this data for. These restrictions are put in place so that only necessary data is collected. The Indian government with this will wants to ensure that personal data of Indian citizens is safeguarded and not stored overseas. Truecaller highlighted this bill as one of the risks factors to its business in the <a href="https://corporate.truecaller.com/cms/18eb93ba-f68b-4446-829c-9d1ad3add6a5_TruecallerAB_prospectus2021.pdf">IPO prospectus</a>. It plans to raise SEK 1 billion, which is about $116 million. What does Truecaller say? “If adopted, the act, which is<a href="https://www.businessinsider.in/tech/news/indias-personal-data-protection-law-versus-europes-gdpr/articleshow/81504058.cms"> broadly modelled on the GDPR </a>[European Union’s General Data Protection Regulations] will establish a mechanism for protection of personal data and would set up a national data protection authority. It is possible that this act, if adopted and depending on the final form, could have unanticipated adverse effects on Truecaller’s business,” Truecaller said, in the IPO prospectus. “Additionally, if third parties that Truecaller works with — such as advertisers, service providers or developers — violate applicable laws or Truecaller’s policies, these violation may also put Truecaller’s information at risk and could in turn have an adverse effect on Truecaller’s business, revenue and financial results,” the company added. Penalties proposed under the data protection bill, 2019 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offence </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Penalty </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Processing or transferring personal data in violation of the bill </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fine of ₹15 crore or 4% turnover, whichever is higher </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Failure to conduct data audit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fine of ₹5 crore or 2% annual turnover, whichever is higher </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Re-identification and processing of de-identified data without consent </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Imprisonment of up to three years, or fine, or both </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Why will a regulation in India impact Truecaller’s overall operations? The personal data protection bill will impact Truecaller’s operations in India, which contribute about 69 percent to its overall revenue. So even a minor impact coming from India could have larger implications for this Sweden-based company. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January-June 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January-June 2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Operating revenue (global) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SEK 169,538,000 ($19 million) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SEK 424,670,000 ($48 million) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss for the period </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SEK 36,413,000 ($4 million) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SEK 117,622,000 ($13 million) </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Truecaller is the third largest communication platform in India, after Facebook and WhatsApp. About 73% — or 205 million — of its 278.1 million monthly active users are from India. It also counts companies like Uber India, Swiggy, Airtel, Flipkart, Byju’s, Urban Company, HDFC Bank, Unacademy, among others, as its key customers. India is also the biggest market for Truecaller in terms of workforce as 55% of its employees are based in the country. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/tata-motors-tcs-hdfc-bank-icici-bank-and-other-trending-stocks-ahead-of-rbis-monetary-policy-meet/slidelist/86857252.cms">Tata Motors, TCS, HDFC Bank, ICICI Bank and other trending stocks ahead of RBI’s monetary policy meet</a> <a href="https://www.businessinsider.in/business/auto/news/heres-why-tata-motors-is-red-hot-even-when-82-of-its-business-is-still-in-the-woods/articleshow/86849799.cms">Here’s why Tata Motors is red hot even when 82% of its business is still in the woods</a> <a href="https://www.businessinsider.in/tech/news/google-and-youtube-say-they-will-cut-off-climate-change-deniers-from-being-able-to-monetize-their-content-and-display-ads/articleshow/86856039.cms">Google and YouTube say they will cut off climate-change deniers from being able to monetize their content and display ads</a>

Ahead of its $116 million IPO, Truecaller says India's upcoming data protection bill may affect future earnings

<ul><li><keyword id="1106616" type="General" weightage="20" keywordseo="truecaller" source="Orion">Truecaller</keyword> is now looking to introduce a set of features that will allow users to respond to business calls without really picking them up.</li><li>The upcoming feature would allow the customers to let such businesses know whether they are interested in their offering.</li><li>The company had also launched the ‘reason for call’ feature for businesses last year to enable effective communication between customers and companies.</li></ul>The constant unsolicited calls from insurance companies, credit card companies and loan providers are extremely annoying, to say the least. In a bid to improve business communication, Truecaller is now looking to introduce a set of features that will allow users to rate such calls and respond to them without really picking them up. Priyam Bose, the Global Head for Go to Market at Truecaller for Business, noted several businesses keep on blindly calling the customers and such feedback could help them optimise their communication in a much more efficient manner. The upcoming feature would allow the customers to let such businesses know whether they are interested in their offering through automated messages like ‘please don’t call me back’ or ‘call me back later’. This feature will make it much simpler for users to let businesses know whether they are the right target audience for them. Such a feature does exist on Truecaller and phones for peer-to-peer calls. However, the customer service numbers of companies are usually one-way and do not allow customers to send messages or call back. Truecaller’s latest feature would be targeted for those customer services only. Secondly, the feature would be enabled for verified businesses that are represented by the green popup on the Truecaller app. Companies pay for this verification to let the customer know that they are a verified business and gain their trust. The feature is a part of Truecaller’s plans to enable reverse communication, which will reduce spam and allow both businesses and their customers to communicate with each other in an optimized manner. The company had also launched the ‘reason for call’ feature for businesses last year, where businesses could cite their reason for calling the customer. Bose told Business Insider, “today we are solving for the first leap of it, where business is making that communication by calling. Then tomorrow the tools will further enable the users to communicate back to those businesses.” The company is still working on the feature and has not decided on a timeline to launch it. Notably, India is the biggest market for Truecaller. About 73% — or 205 million — of its 278.1 million monthly active users are from India. It also counts companies like Uber India, Swiggy, Airtel, Flipkart, Byju’s, Urban Company, HDFC Bank, and Unacademy, among others, as its key customers. The country contributes about 69% to its overall revenue. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/corporates/news/hdfc-to-sell-10-stake-in-its-private-equity-real-estate-firm-to-abu-dhabi-investment-authority/articleshow/90950731.cms">HDFC to sell 10% stake in its private equity real estate firm to Abu Dhabi Investment Authority</a> <a href="https://www.businessinsider.in/finance/banks/news/hdfc-out-of-top-10-largest-companies-in-india/articleshow/90933474.cms" style="">HDFC twins wipe out ₹2.5 lakh crore investor wealth, push HDFC out of top 10 largest companies in India</a> <a href="https://www.businessinsider.in/business/telecom/news/jiofiber-plans-with-free-installation-free-set-top-box-and-free-router-announced-plan-details-prices-and-everything-else-you-need-to-know/articleshow/90939082.cms" style="">JioFiber plans with free installation, free set top box and free router announced – plan details, prices and everything else you need to know</a>

Truecaller is working on a new feature to help tackle unsolicited calls from insurance companies, loan providers

Swedish caller identification app <keyword id="1106616" type="COMPANY" weightage="20" keywordseo="TrueCaller">Truecaller</keyword> on Wednesday announced the appointment of <keyword id="4561539" type="PERSON" weightage="20" keywordseo="Rishit-Jhunjhunwala">Rishit Jhunjhunwala</keyword> as the Managing Director for its India operations. Currently based in <keyword id="23050" type="LOCATION" weightage="20" keywordseo="Sweden">Sweden</keyword>, the company's headquarters, Jhunjhunwala will be moving back to Bengaluru and will be responsible for spearheading business strategies to expand the company's footprint and accelerate revenue growth in India. He would be also continuing his previous role as Chief Product Officer and would be overseeing the operations based in Delhi, Mumbai, and Bengaluru. "We wanted a leader like Rishit who can connect deeply with customers, employees and partners alike with his 6 years of extensive experience within the company," <keyword id="1972353" type="PERSON" weightage="20" keywordseo="Alan-Mamedi">Alan Mamedi</keyword>, CEO and <keyword id="170488" type="COMPANY" weightage="20" keywordseo="co-founder">Co-Founder</keyword>, Truecaller said in a statement. Jhunjhunwala joined Truecaller in 2015 as VP of Product and has led the evolution of the product since then, becoming Chief Product Officer in 2020. "I am looking forward to my next venture with Truecaller in India. I firmly believe that Truecaller will continue to transform the way the world communicates and bring great value to people around the world," Jhunjhunwala added. The company recently announced 200 million active users in India and over 270 million active users globally. The Indian market accounts for over 60 per cent of Truecaller's user base and is continuing to increase as a pivotal sector in their expansion. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/peter-thiel-backed-vc-firm-valar-ventures-invests-in-indian-fintech-startup-velocity/articleshow/81663073.cms">Peter Thiel-backed VC firm Valar Ventures invests in Indian fintech startup Velocity</a> <a href="https://www.businessinsider.in/stock-market/news/anupam-rasayan-ipo-lists-at-520-per-share-on-the-india-stock-exchange/articleshow/81663145.cms">Anupam Rasayan fails to dazzle on its stock market debut – shares down by nearly 8% below the issue price</a> <a href="https://www.businessinsider.in/business/startups/news/inshorts-backed-social-networking-app-public-raises-300-crore-in-latest-funding/articleshow/81663873.cms">Inshorts-backed social networking app Public raises ₹300 crore in latest funding</a>

Truecaller elevates its Chief Product Officer Rishit Jhunjhunwala to also head India operations

<ul><li><keyword id="1106616" type="PERSON" weightage="20" keywordseo="TrueCaller">Truecaller</keyword> has 150 million users in India and a total of 200 million worldwide. </li><li>The Swedish app’s revenue jumped 70% in the last four months and turned profitable. </li><li>It also said that its premium subscription service has a million users. </li><li>The company believes that its paying users will grow by 50% in the coming months.</li></ul>As much as 75% of total users of Truecaller are from India. According to a press release by the company, users from Indian market make up for 150 million monthly active users, of its total 200 million worldwide. All this is due to excessive spam calls that Indian customers are trying to block. According to data <a>revealed</a> by the company, India ranks fifth globally when it comes to spam calls and over 10% of these calls come from financial service providers. Truecaller also declared that it has turned profitable over the last four months, after a sharp revenue jump. “We are thrilled and humbled that we have been profitable for the last several months while simultaneously growing revenues at over 70% annually,” said Sandeep Patil, managing director of Truecaller. The app recently expanded its service offerings to include voice and messaging, UPI payments and more. Truecaller also said that its premium subscription service now has a million users. And it’s gunning for more. The company believes that its paying users will grow by 50% in the coming months. Truecaller to offer <keyword id="5012940" type="PERSON" weightage="20" keywordseo="digital-credit">digital credit</keyword> lending services soon The Swedish app also wants to enter new business areas that can boost its revenues. It’s sector of choice is digital lending services. Several tech companies are choosing to enter Indian fintech space like smartphone makers <a href="https://www.businessinsider.in/business/news/xiaomi-launches-mi-credit-in-india/articleshow/72350148.cms">Xiaomi</a> and <a href="https://www.businessinsider.in/tech/news/smartphone-makers-realme-and-xiaomi-will-compete-in-the-financial-services-market-too/articleshow/72832681.cms">Realme</a>. Paytm founder Vijay Shekhar Sharma even <a href="https://www.businessinsider.in/business/startups/news/decoding-vijay-shekhar-sharmas-latest-tweet-on-2020-being-the-year-of-lending/articleshow/73924710.cms?src=hp_latest">took to Twitter</a> earlier today to claim “2020 will be the year of lending, globally”. Getting ready for an IPO This sudden interest in raking up revenue has long-term plans. Patil said that Truecaller is getting ready for an initial public offering (IPO). “This is a concrete milestone on our path to build a financially-sustainable independent company that will be ready for IPO in three years,” he added. So far, the 10 year old company <a href="https://www.crunchbase.com/organization/true-software-scandinavia#section-overview">raised</a> $98.5 million from Sequoia Capital and Kleiner Perkins, among others. Revamping business products It is also expanding its portfolio with Truecaller for Business, aimed at small and medium enterprises and businesses. This FourSquare-like service will help businesses discover users nearby. Currently, Truecaller for Business is offered for free. Business owners can create their profiles with information like address, website, email and opening business hours. These features are similar to what we find in Google Maps. It is also revamping its Truecaller Priority service to distinguish between businesses from spam calls. See also: <a href="https://www.businessinsider.com/truecaller-expands-fintech-efforts-in-india-2019-12?IR=T">Truecaller expands further into fintech in India by providing credit to small businesses</a> <a href="https://www.businessinsider.in/how-truecaller-helped-spotify-and-zoomcar-reach-500-million-impressions-in-a-day/articleshow/70960768.cms">How Truecaller Helped Spotify and Zoomcar Reach 500 Million Impressions in a Day</a>

Truecaller has three-fourths of its customers in India - all thanks to endless spam calls

<ul><li>Spotify capitalised on Truecaller’s brand solutions to maximize the brand visibility and saw 30% more clicks in a single day for its launch campaign. </li><li>Zoomcar managed to achieve over 400 million impressions for its brand campaign after using Truecaller</li><li>India is the largest revenue contributor for Truecaller globally</li></ul>When Swedish mobile app Truecaller started buying and selling ad inventories programmatically in 2017, a lot of people were not aware of its potential. Fast forward to now, Truecaller’s programmatic platform has helped brands like Spotify and Zoomcar to capitalize on the platform’s 100 million daily active premium smartphone users in India, to send out their communications and see close to 500 million impressions in one day for their campaigns. Spotify launched in India in February this year and during the launch phase, the music streaming app capitalised on Truecaller’s brand solutions to maximize the brand visibility and saw 30% more clicks in a single day. By using Truecaller’s contextual capabilities, Spotify’s launch campaign, ‘There’s A Playlist For That’ ended up delivering over 500 million impressions in a single day. Similarly, Zoomcar again used Truecaller to reach out to its users across major cities, to promote its three-day offer of 100% off on bookings made towards the end of May, earlier this year. The numbers from both the campaigns are impressive. Both Spotify and Zoomcar saw 500 million and 400 million impressions respectively for their campaigns. We recently spoke to Tejinder Gill, Vice President Global Sales, Truecaller to understand how the programmatic ecosystem has evolved in the country in the past few years. Sharing his views on some of the biggest advantages of using programmatic advertising, Gill said, “When you look at it from a publisher’s lens, programmatic has helped us get better yield. We get more money for our inventory and everything can be optimized automatically at the back-end. We’ve now also started offering guaranteed deals called ‘Programmatic Guaranteed’ through which we can sell all our premium inventories like Roadblocks programmatically.” Gill further shares that moving to programmatic has also helped in bringing about a lot of operational efficiencies. “We no longer need a big team. Currently, three people are managing ad operations and programmatic for Truecaller globally, which includes large markets like India, Middle East and Africa. On an average, these people manage over 100 campaigns a month, which means three campaigns per day, which is a pretty high volume,” adds Gill. It has also helped in regularizing payment cycles, he shares. Gill believes programmatic is very helpful for marketers too, who now know exactly where their campaigns are running, which has given them a lot of confidence and control over their campaigns. “They are also getting better insights and are able to optimize their campaigns. They know how frequently we are reaching out to consumers and what geographies they are from,” he explains. The fact that the pricing is transparent has also helped win over a lot of clients, shares Gill. Speaking about how Truecaller helped them reach their target audience and drive effectiveness, Varun Jha, Chief Marketing Officer, Zoomcar, said, “Through Truecaller, we managed to achieve over 400 million impressions for our brand campaign. By tapping such a large quality audience through Truecaller, we were able to generate user interest that led to direct conversions during our campaign. Having witnessed such exceptional metrics, we would surely partner with Truecaller in the future for our brand promotion.” Sharing her experience, Neha Ahuja, Head of Marketing - India, Spotify said, “Being recent entrants to the Indian music streaming landscape, collaborating with fellow Swedish app Truecaller truly accelerated our launch campaign in India. It helped us gain scale and connect with potential 1.3M users who clicked on our ads through Truecaller.” Gill also feels that programmatic has evolved a lot in the last few years. He shares that close to 70% of marketers are today choosing to transact programmatically. Moreover, during the first phase, only display ads were available programmatically. However, today, YouTube mastheads, and inventory on Facebook and Google can be bought programmatically, which is leading to the entire ecosystem moving towards programmatic. So how important is India for Truecaller in the global scheme of things? ‘Very’, says Gill who shares that India is the largest market for Truecaller globally. “India is far ahead of the curve in terms of programmatic when compared to a lot of other markets like MENA and Africa. We are also the largest revenue contributors and will continue to grow as we scale up,” he adds.

How Truecaller Helped Spotify and Zoomcar Reach 500 Million Impressions in a Day

New Delhi, Feb 4 () Phone directory app Truecaller on Tuesday said it has achieved profitability over the last four months with India contributing significantly to the growth.
 The Stockholm-based company has also crossed the 200 million monthly active users (MAUs)-mark globally. Of this, 150 million were from India.
 "The aggressive growth in advertising sales and premium subscriptions in India have been a driving force in revenue generation," Truecaller said in a statement.
 Premium subscriptions have grown immensely since it was launched a year back, it added.
 "It has already crossed the 1-million mark and projected to grow by another 50 per cent in coming months," according to the statement. 
 Sandeep Patil, Managing Director at Truecaller, said the company has been profitable for the last several months while simultaneously growing revenues at over 70 per cent annually.
 "We will continue to grow revenues through investments in advertisement, subscriptions, credit and financial services," he added.
 Patil said the company will "make in India for India by recruiting talent across technology, product management, data sciences and finance and by developing partnerships across the ecosystem".
 "This is a concrete milestone on our path to build a financially-sustainable independent company that will be ready for an initial public offering (IPO) in three years," he noted.
 Truecaller is also expanding its business portfolio with services like Truecaller for Business.
 Another feature being revamped is Truecaller Priority, which identifies relevant calls from businesses, thereby differentiating them from spam calls. SR ANS
ANS

Truecaller turns profitable, crosses 200 mn monthly user-base globally

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Paula Bronstein/Getty ImagesChop chop.</div></div></div>Truecaller - a Swedish startup worth $1 billion (£660 million) - is shedding dozens of jobs, according to a report in The Local. <a href="http://www.thelocal.se/20151211/swedish-unicorn-truecaller-sheds-jobs">The English-language Swedish publication reports</a> that a tipster told them up to 35 people are being let go by the company because of "financial problems."The company has reportedly confirmed the layoffs, though did not comment on numbers: "We have let a number of consultants and a few full-time employees go recently," said comms director Kim Fai Kok, "which is natural to any company in a high growth stage."The startup currently has 160 employees <a href="https://www.linkedin.com/company/true-software-scandinavia-ab" target="_blank">listed on LinkedIn.</a>Kim Fai Kok did not immediately respond to a request from Business Insider for comment about the size of the layoffs and the financial state of the company.Launched in 2009, Truecaller builds an Android app that helps users verify who is contacting them, flagging up potentially spammy numbers. In July 2015, TechCrunch reports the startup, based in Stockholm, was raising $100 million (£66 million) at a valuation of $1 billion (£660 million) - making it a fabled "unicorn" startup.The company also raised $60 million (£39 million) in 2014, with investors including Kleiner Perkins Caufield &amp; Byers, and Atomico.Truecaller is a free app (with premium features). It <a href="http://uk.businessinsider.com/truecaller-out-of-office-truedialer-2015-9">declined to comment on revenues when asked by Business Insider earlier this year</a>. CEO Alan Mamedi said we would learn more about the company's monetisation strategy in 2016.<a href="http://www.thelocal.se/20151211/swedish-unicorn-truecaller-sheds-jobs">The Local reported</a> the company saw 6.7 million kronor (£650,000) in sales in 2015 - along with losses of 85 million kroner (£8.2 million). We'll update this story as more details come in. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/saudi-arabias-makes-worlds-tallest-building-jeddah-tower-2015-12">Saudi Arabia is building the world's tallest building - nearly twice the height of One World Trade Center</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="hpMzk5eTqH8pMBYUZmkTsINysHQBeDL0" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Hot Swedish startup Truecaller reportedly just laid 35 people off

As <keyword id="1560234" type="UNKNOWN" weightage="80" keywordseo="hardware-components">hardware components</keyword> are becoming cheaper day-by-day in India, experts believe that software sales will play an important role in the growing <keyword id="28168" type="TECHNOLOGY" weightage="80" keywordseo="Smartphone">smartphone</keyword> market in the country. 
 
Earlier, device makers were looking to make money on the hardware they sell. But as there is a fall in margins, vendors are seeing opportunities to help raise the bottom line with software and content distribution deals. 
 "We don't yet lose money on the hardware," said Suneet Singh Tuli, the CEO of <keyword id="2453818" type="UNKNOWN" weightage="60" keywordseo="low-cost-tablet-maker">low-cost tablet maker</keyword> Datawind. The firm is chasing recurring revenue sources through software partnerships and content deals. 
 
"Five years down the line, it is reasonable to expect half our revenues from the recurring stream," he added. 
 The average selling price of a smartphone in India is already amongst the lowest in the world. Market experts believe that the prices are expected to drop further as low-cost vendors push Google's $100 (Rs 6,000) <keyword id="2453819" type="UNKNOWN" weightage="60" keywordseo="Android-One-phones">Android One phones</keyword> this year in a major way. 
 Homegrown handset manufacturer Karbonn sells over 650,000 smart devices every month. It makes about 6-7% of the revenues from value-added services. It pre-installs software and apps like Opera's browser, <keyword id="790242" type="UNKNOWN" weightage="80" keywordseo="WhatsApp">WhatsApp</keyword>, Amazon, <keyword id="1106616" type="UNKNOWN" weightage="60" keywordseo="TrueCaller">Truecaller</keyword> and CleanMaster. 
 
When Google announced the Android One initiative for emerging markets at the I/O conference this year, it said phone vendors would be allowed to bundle third-party applications on to the device. 
 
Chinese smartphone manufacturer Xiaomi, which entered the Indian market earlier this month, follows a similar strategy. It heavily banks on software sales for profits. 
(Image: Thinkstock)

Software Sales To Play A Major Role In Indian Smartphone Market

<ul><li>Paytm now offers hotel booking with its acquisition of NightStay. </li><li>Earlier in January, Paytm had announced its entry into food delivery. </li><li>It already operates in the ticketing business with Paytm Movies, e-commerce sector with Paytm Mall.</li></ul>Paytm is one of the frontrunners of Indian startups and a leader in the digital payments in India. But it’s also competing head-on with almost every other business in the e-commerce space. In the last one month, the company has entered two new major segments – hotel booking and food delivery. On January 30, Paytm announced the acquisition of <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/paytm-enters-hotel-booking-business-buys-nightstay/articleshow/67748857.cms">NightStay</a>, a four-year platform which helps users book hotel rooms and offers last minute deals. While MakeMyTrip and Oyo Rooms have been dominating the <keyword id="864750" type="PERSON" weightage="20" keywordseo="Hotel-bookings">hotel bookings</keyword> space, the recent acquisition of NightStay will help Paytm become a one-stop shop for its over 230 million users and the potential ones. Paytm already competes with MakeMyTrip in offering flight and train tickets. Vijay Shekhar Sharma took on BookMyShow when Paytm started selling movie tickets in 2016. <a href="https://techcircle.vccircle.com/2018/10/30/kept-on-its-toes-by-paytm-bookmyshow-slips-deeper-into-the-red-in-fy18">BookMyShow</a> revenue growth dropped to 27% in 2016-17 from 85% a year earlier. Earlier in January, Paytm had also announced its<a href="https://www.businesstoday.in/technology/news/paytm-joins-hands-with-zomato-to-offer-in-app-food-delivery-service/story/310921.html"> partnership</a> with foodtech unicorn Zomato to enter the food delivery segment and take on rival Swiggy. With the Paytm Mall, the company has a foot in online retail- from apparels and accessories to electronics, footwear, and fitness equipments to name a few. However, its success has been limited. Even with massive cashbacks and discounts, Paytm Mall had not been able to make an impact yet with reports reflecting that the company’s losses went up by <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/paytms-parent-company-one97-communications-widens-net-loss-to-rs-1490-4-cr/articleshow/66402994.cms">270%</a> last year mainly because of its e-retail arm. The <keyword id="1705292" type="PERSON" weightage="20" keywordseo="Indian-e-commerce">Indian e-commerce</keyword> segment is already crowded with Amazon and Walmart fighting it out, and now, Reliance Industries also planning to enter the market. While there were rumours of the company planning to scale down its e-commerce operations, founder Vijay Shekhar Sharma had told <a href="https://economictimes.indiatimes.com/industry/services/retail/paytm-has-no-plans-to-leave-mall-business-vijay-shekhar-sharma/articleshow/67681312.cms">ET</a> that “it has no plans to leave the mall business”. See Also: <a href="https://www.businessinsider.in/amazon-walmart-owned-flipkart-set-back-by-new-e-commerce-rules-that-help-mukesh-ambanis-reliance-retail/articleshow/67751026.cms">Mukesh Ambani may be the surprising winner from India's new rules hurting Amazon and Walmart</a> <a href="https://www.businessinsider.in/indias-new-e-commerce-policy-has-rivals-flipkart-and-amazon-teaming-up-to-counter-the-new-directive-and-the-republic-day-sale-will-probably-be-their-last/articleshow/67366996.cms">India’s new e-commerce policy has rivals Flipkart and Amazon teaming up to counter the new directive — and the ‘Republic Day’ sale will probably be their last</a> <a href="https://www.businessinsider.in/in-india-amazons-fight-is-not-just-with-flipkart-but-with-paytm-google-pay-and-truecaller/articleshow/67456165.cms">In India, Amazon's fight is not just with Flipkart, but with PayTM, Google Pay and Truecaller</a>

Paytm is competing with almost everyone in Indian e-commerce

<div class="KonaFilter image-container display-table float_right"><div><div class="image">TruecallerTruecaller CEO and co-founder Alan Mamedi</div></div></div>Truecaller CEO Alan Mamedi has managed to convince several friends - all of which were "deep Apple fans" - to switch to Android because of just how good the combination of his apps are.That's because one of the Swedish company's apps, Truedialer, is only available on Android right now. The company has just added a new function to the app, which has effectively killed off the need to ever set your "out-of-office" notifications again. Right now it's only Android users who can currently use its three apps - Truecaller, Truemessenger, and Truedialer - in tandem. And some of Mamedi's friends just can't seem to wait for that experience to make it to iOS.Truedialer uses Truecaller's platform to add a name and even a photo to an unknown contact as you punch in a new number to make a call. The platform has a global directory of millions of numbers, which its first app (also called Truecaller) uses to screen and block unwanted calls. It can identify who's calling - like your bank or a telemarketer - even if that number isn't stored in your phonebook.Truemessenger tells you who sent a text even if they're not on your contact list, and automatically blocks spam messages too.Now Truedialer users can check the availability of the person they are trying to call before dialing. For this to work, both users need to have the app set as their default dialling app. Then, the app syncs with the user's calendar, and puts a little red dot next to their name if they are in a meeting or on holiday. The app can also tell if they are on a call or have their phone on silent. The person trying to reach them can then choose to be notified when they are available again or send them a message.<div class="KonaFilter image-container display-table"><div><div class="image">TruecallerIt looks like Steven is busy.</div></div></div>"We saw that the most-used communication channel on your phone - which is still messaging and calls - was missing the most crucial component," Mamedi told Business Insider. "It needed an identity platform so you know who the person calling you is. On all other networks, like email, there's always an identity attached.""Phone communication in general has been broken since day zero. So with Truecaller we wanted to let people know who is calling them and how they are connected to that person. That makes it so much easier to make a decision on whether the call is important to them or not. But with outbound calls it's essential to know whether the person you're trying to reach is available or not. Because usually when you call someone and they miss it they forget to call you back. That's a problem."While the company uses several data points to check someone's availability, Mamedi says it never holds that data. "Everything happens on the client itself," he said.Truedialer has been downloaded 10 million times in just over a year since it was first launched, the company says. The Truecaller app has 150 million downloads to date and is increasing by 300,000 users every day. Over 60% of the company's monthly active users use their apps every day.The company<a href="http://www.businessinsider.com/r-swedens-truecaller-clinches-60-mln-in-venture-capital-funding-2014-10?IR=T"> raised $60 million (£39 million) in 2014</a> from investors including Atomico and Kleiner Perkins Caufield &amp; Byers. Mamedi and Nami Zarringhalam founded the company in 2009.Truedialer is currently free, but the Truecaller app does have some premium features. Mamedi didn't share the company's revenues, but promised that we'll see more on how Truecaller plans to monetise its apps next year."Hopefully we'll be launching Truedialer for the iPhone in the near future," he also said. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/shade-balls-california-drought-shadeballs-los-angeles-2015-8">'Shade balls' are being used across California to combat the drought </a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="x1dm55djq96zgcI3eC5Fl7nCEzdjY2Hf" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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Software Sales To Play A Major Role In Indian Smartphone Market

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Paytm is competing with almost everyone in Indian e-commerce

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