If you’re saved from receiving unnecessary spam calls then the Truecaller app has been guarding your smartphone constantly. The Swedish caller-identification service provider crossed 200 million monthly users globally.
One interesting fact here is that tout of 200 million active users globally, 75% are Indians (150million) according to TechCrunch report.
The last 4 months have been profitable for the Truecaller app and its ad-based revenue system contributes more than 50% profit. Its additional premium subscription model takes to care of another 50% of revenue.
How Much Savage This Truecaller app is?
India ranks 5th among all the countries in terms of receiving spam calls, out of which 10% are from fraudulent financial serviced providers.
This is where Truecaller app steps in and provides a platform to its userbase where they can detect and report spam calls and block them for a lifetime.
I still remember getting a phone call from an unknown number saying it was my branch manager. But even before I could pick up the call, the Truecaller app indicated that it’s an abused phone number.
From Where They Are Earning?
The service helps in generating 30% of the company’s revenue whereas ads account for more than half of income. In the US Truecaller app comes at $2.99 per month, while in India it’s as affordable as it can be and comes at whopping 70 cents!!
The Swedish caller-identification service provider predicts to grow by 50% in the coming months. Truecaller app has expanded beyond providing caller ID service.
It has added additional messaging and payment services in India which plans to expand in more markets globally (precisely in Africa).
The app also aims to stretch its portfolio in India’s fintech space where it plans to offer digital lending services to boost revenues.
There no market, no app that comes without any competition. The same is the case with the Truecaller app. There are big players like Paytm and PhonePe in payment gateways, which makes it slightly difficult for Truecaller to set a strong foothold.
“Make in India for India by recruiting talent across technology, product management, data sciences and finance and developing partnerships across the ecosystem. This is a concrete milestone on our path to building a financially-sustainable independent company that will be ready for an initial public offering (IPO) in three years.” Sandeep Patil, Managing Director at Truecaller.
It’s an amazing achievement for the Truecaller app to cross over 200 million monthly active users. The app has a lot more to achieve. Probably, this is the best time for the company to expand and diversify to reap the best out of it.
On behalf of Next Big Brand, we wish all the best to Truecaller for its phenomenal success.