![]() ![]() And the main reason (for the slowness) was that the smartphone sales in India during Q4 ( Oct-Dec) actually went down by almost 40 percent," said Mamedi. "We saw a slowness in growth (in the previous quarter), but we still grew. However, Mamedi is optimistic about the India market. Truecaller earns about 80 percent of its revenue from advertisements, while 10 percent comes from subscriptions and 10 percent comes from Truecaller for business. The launch of Truecaller's new office space in India comes at a time when advertising revenue has slowed down globally. India is Truecaller's biggest market as the company has about 248 million monthly active users in the country currently, while globally, it has a user base of 338 million monthly active users. "So in three years, if we just continue to evolve as we are doing and continue to grow as we do, we should have around 400 or 500 million users by then," Mamedi added. If we just keep the same pace, India is expected to have around 700-800 million connected smartphones by 2026," said Alan Mamedi, co-founder and CEO of Truecaller at the launch. "Today, we have about 55 percent of connected smartphones in India using our service, more or less every day. The office was inaugurated virtually by the Union Minister of State for Skill Development and Entrepreneurship & Electronics and Information Technology, Government of India, Rajeev Chandrasekhar on March 16. ![]() The caller ID platform, which expects its user base in India to touch 500 million from 248 million currently by 2026, has leased a 30,000 square feet office, with a capacity of accommodating 250 employees. Communications and caller ID platform Truecaller has opened its largest office space outside Sweden in Bengaluru, instilling optimism in its largest market, which according to the Sequoia-backed company is poised for a two-fold growth in user base over the next three years. ![]()
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