• About
  • Contact
Monday, May 23, 2022
  • Login
Next Big Brand
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail
No Result
View All Result
Next Big Brand

Truecaller Begins with a 15.4% pop on Nasdaq Stockholm Trading Debut

Anshumaan Vishnu by Anshumaan Vishnu
October 8, 2021
in News, Startup
Reading Time: 3 mins read
A A
0
Turecaller Founders

Founded in 2009 by Alan Mamedi and Nami Zarringhalam, Truecaller claims to have 205.5 million monthly active users in India in the second quarter of 2021.

Caller and SMS number identification company Truecaller, which makes the majority of its wealth from India, made its trading introduction at $6.82 (60 Swedish Krona) per share on Stockholm Stock Exchange, up 15.4 percent from the company’s listing price, giving the business a market cap of around $2.5 billion.

Previously on October 8, Truecaller rated its public offering at $5.91 (52 Swedish krona), corresponding to a market cap of $2.2 billion (19,431 Swedish Krona). The company was seeing to mop up around $428.2 million (3,770 million Swedish Krona) by the offering, considering the over-allotment option is exercised in full. Of this, the primary capital being raised is $114 million (1,000 Swedish Krona).

The firm set a price of 44-56 Swedish krona per share for its listing of Class B shares on September 29. It had first declared plans to list on Nasdaq Stockholm on September 15.

India is Truecaller’s largest market

Established in 2009 by Alan Mamedi and Nami Zarringhalam, Truecaller claims to have 205.5 million monthly active users in India in the second quarter of 2021. It claims to be the third-largest communication platform in the country by monthly active users behind WhatsApp and Facebook. The organization also states that 76.8 percent of its 215.5 million daily active users reside in India.

The Sequoia-backed firm, which has claimed India as its largest market, has reported 185 million MAU and 150 million DAU from the region. As per the above estimates, India has contributed 74 percent to MAU and 75 percent to Truecaller’s DAU.

In the first eight months of 2020, the Stockholm based business added 50 million MAUs. It surpassed MAU 200 million in February 2020 and MAU 100 million in April 2018, respectively.

Details of the IPO

Through this IPO, the business is offering 53.4 million Class B shares (53,414,532 Class B shares), of which 19.23 million shares (19,230,770 shares) are newly issued shares and 34.18 million shares (34,183,762 Class B shares) are sold by existing shareholders, including founders Mamedi and Zarringhalam and investors Sequoia Capital India, Atomico, and Kleiner Perkins. Employees are also offloading shares in this offering through various entities.

Truecaller Call Reason- Next Big Brand
Truecaller new interface.

The Swedish firm noted that the offering involves an increased share offering of 9.63 million shares (9,628,948 shares). Investors Sequoia India, Atomico, Kleiner Perkins, OpenOcean and Zenith Venture Capital have also committed to selling up 9.46 million shares (9,456,520 Class B shares) to cover any over-allotments in relation to the offering, the firm said. If the over-allotment option is exercised in full, the offering will comprise a total of 72.5 million shares (72,500,000 Class B shares).

“Today marks a monumental milestone in Truecaller’s history. A fantastic journey began twelve years ago that has resulted in Truecaller becoming the leading global platform for verifying contacts and blocking unwanted communication with 280 million active users and more than half a billion app downloads. Now begins a new chapter to make tomorrow’s communication smarter, safer, and more efficient. Nami and I look forward to continuing Truecaller’s growth journey together with existing and new shareholders,” Mamedi stated.

After listing, founders Zarringhalam and Mamedi will command a majority of its voting power due to their ownership of Truecaller’s high-vote Class A shares, the corporation told on September 15.

Tags: Indian truecaller usersStartup IPOTruecaller app
Previous Post

Chingari Taps into Solana’s Blockchain With $19M Funding Round

Next Post

Tata Bought Air India For ₹ 18,000 Crore

Anshumaan Vishnu

Anshumaan Vishnu

An entrepreneur and writer who prefers to create content around startups, entrepreneurship and digital marketing. To talk more like this idea, connect on LinkedIn.

Related Posts

Paytm ceo
News

Vijay Shekhar Sharma Reappointed as Paytm MD and CEO Till December 2027

May 23, 2022
High street essentials founders
News

High Street Essentials Bags 40 Crore From Stride Ventures

May 20, 2022
Cars24 founder
Automobile

Used Car Ecommerce Platform Cars24 Lays Off 600 Employees To Cut Cost

May 19, 2022
Ola Foods logo
Food

Ola Foods Cancels Expansion Plans, Looks To Integrate With 10-minute Grocery Delivery

May 19, 2022
Sameer Nigam PhonePe CEO
News

PhonePe To Acquire WealthDesk For Around $50 Million & OpenQ For Nearly $25 Million

May 18, 2022
Smytten Founders
News

D2C Sampling Startup Smytten Raises Rs 100 Crore in Pre-Series B Led By Fireside Ventures

May 17, 2022
Next Post
JRD Tata air india

Tata Bought Air India For ₹ 18,000 Crore

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

BROWSE BY TOPICS

Acquiring amazon Apple brand story BYJU Ravindran Byjus byjus news byjus the learning app Cryptocurrency Edtech Startups Elon Musk facebook fintech news Flipkart funding google Indian OTT Platforms Indian Unicorn Indian Unicorns Indian Unicorns of 2021 Mukesh Ambani Netflix NFT NFT Collection Non Fungible Tokens Ola OYO Paytm Reliance Retail Startup Acquisition Startup IPO startup news india Startups startups in india Swiggy Tiktok TikTok India Twitter Unicorns of 2022 Unicorns of India Unicorn Startups Upgrad YouTube Zomato Zomato App

Instagram

Follow Me!

Recent News

  • Vijay Shekhar Sharma Reappointed as Paytm MD and CEO Till December 2027
  • High Street Essentials Bags 40 Crore From Stride Ventures
  • Used Car Ecommerce Platform Cars24 Lays Off 600 Employees To Cut Cost

Latest News

Paytm ceo

Vijay Shekhar Sharma Reappointed as Paytm MD and CEO Till December 2027

May 23, 2022
High street essentials founders

High Street Essentials Bags 40 Crore From Stride Ventures

May 20, 2022
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail

© 2019 NBB. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.