It is -2°C outside Truecaller’s headquarters on the snow-streaked road of Kungsgatan in Stockholm. The granite building is hard to miss, with a flag emblazoned with the familiar logo fluttering on a wall. The office on the first floor overlooks one of the city’s oldest classic theatres, Rigoletto, named after an eponymous opera by Italian composer Guiseppi Verdi. It is a picturesque view from Truecaller’s Asia Room, which has a token painting of the Taj Mahal and a figurine of Mahatma Gandhi with the charkha by the window. It’s warm as a mink coat inside, but Alan Mamedi, the app’s cofounder and CEO, is wearing a thin blue sweater. “You think you would get used to Nordic winters after living for 33 years in Sweden, but every year it takes you by surprise,” says Mamedi, a computer science graduate whose app, his fourth and longest running startup, has clocked over 250 million users, 60% of them from India.
\n
\nThe app, which has a current valuation of over Rs 500 crore (as per industry estimates), is developed by the Swedish company True Software Scandinavia, but 90% of its staff doesn’t speak Swedish, says Mamedi. “We are happy if you can speak even broken English as long as you can code. That’s the language everyone prefers here,” he says.
\n
It is -2°C outside Truecaller’s headquarters on the snow-streaked road of Kungsgatan in Stockholm. The granite building is hard to miss, with a flag emblazoned with the familiar logo fluttering on a wall. The office on the first floor overlooks one of the city’s oldest classic theatres, Rigoletto, named after an eponymous opera by Italian composer Guiseppi Verdi. It is a picturesque view from Truecaller’s Asia Room, which has a token painting of the Taj Mahal and a figurine of Mahatma Gandhi with the charkha by the window. It’s warm as a mink coat inside, but Alan Mamedi, the app’s cofounder and CEO, is wearing a thin blue sweater. “You think you would get used to Nordic winters after living for 33 years in Sweden, but every year it takes you by surprise,” says Mamedi, a computer science graduate whose app, his fourth and longest running startup, has clocked over 250 million users, 60% of them from India.
\n
\nThe app, which has a current valuation of over Rs 500 crore (as per industry estimates), is developed by the Swedish company True Software Scandinavia, but 90% of its staff doesn’t speak Swedish, says Mamedi. “We are happy if you can speak even broken English as long as you can code. That’s the language everyone prefers here,” he says.
\n
\nIt was in 2009 that he and his friend Nami Zarringhalam developed an application to identify unknown callers pestering them on their phones. “We needed the product ourselves so we just sat down and built everything. It didn’t cost us any money. Once we realised it had taken a life of its own, we resigned from our full-time IT jobs to focus on the app.”
\n
\nIncidentally, Truecaller’s cofounders both have Iranian roots. Mamedi’s Kurdish parents fled Iran in 1984. They first went to Turkey before taking refuge in an immigration camp in northern Sweden. A month later, Mamedi was born. His first encounter with racism as an immigrant’s son happened at the age of seven when his parents had separated and his mother took up a job in a warehouse. “They saw immigrants very differently,” he recalls.
\n
\nMamedi insists on speaking to his daughter and son in Kurdish so that he can pass on the linguistic heirloom to them. And Kurdish and Hindi have similarities, Mamedi exclaims. He realised it over dinner with Shailesh Lakhani and Mohit Bhatnagar, MDs of Sequoia Capital India, who had come to discuss an investment deal with Truecaller in 2013. “They were discussing some numbers between themselves when I heard one of them say hazaar and I said, ‘You mean a thousand?’ For a second they thought I speak Hindi as well,” he recalls.
\n
\nSince India is Truecaller’s biggest market, it enjoys a lot of launches and exclusives. In July 2015, it launched Truemessenger, a caller ID for text messages, in India three months before its global rollout. Last year, the app blocked 300 crore spam messages of which over 5 crore came from a single telecom company from India. Later that year, it launched a transliteration feature that show caller names in Hindi. The feature is now available in 12 Indian languages and has an Arabic version for the Middle East.
\n
\nIt is easy to work with Indian firms, says Mamedi. “Sweden and India have been doing business for a century. Even when our company was unheard of in India, the moment we said we were from Sweden, they would respect and trust us.”
\n
\nIn 2016, Truecaller started brand partnerships and targeted advertising to earn Rs 40 crore in revenue. Over the last two years, it has partnered with several Indian brands. It is a default dialler for some of Micromax’s feature phones. Airtel has a Truecaller Priority plan where companies have the option to whitelist a few numbers that they claim to use only for important communication. Truecaller has partnered with ICICI Bank to enable online payments through the app. Not all these tieups generate revenue though.
\n
\nGoing forward, Truecaller has to find more revenue streams to lower its dependency on inapp advert ising, which accounted for 95% of its revenue. Mamedi is bullish about the adoption of Truecaller Pro — a subscription package that allows an ad-free experience and the option to request for 30 contacts a month. A user can type in a name and ask for that person’s number. The request is shared with the owner of the number for approval before the app shares the contact details. While it was launched in August 2013, the app started promoting it aggressively only in the second half of 2017. Mamedi doesn’t disclose the number of Pro subscribers. “It’s a small percentage of the entire user base but I see a lot of real estate brokers and car sales professionals subscribing to Pro,” he says.
\n
According to analytics company App Annie, Truecaller was the fourth most used app after WhatsApp<\/a>, Facebook and Facebook Messenger, across Android and iOS devices in India last year. The company’s report, however, shows India ranking fairly low on spending on the app. Finding a larger consumer base for Pro is going to be a challenge for Mamedi. Another would be to get his mother to stop using the “Last seen” feature on Truecaller to check why her son is up at 2 am on most nights. The latter would be the easier battle.
\n\n<\/p><\/body>","next_sibling":[{"msid":63068314,"title":"Government awaits Idea-Voda tower sale closure for green signal to mega merger: Sources","entity_type":"ARTICLE","link":"\/news\/government-awaits-idea-voda-tower-sale-closure-for-green-signal-to-mega-merger-sources\/63068314","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":63068327,"entity_type":"ARTICLE","title":"Truecaller cofounder Alan Mamedi's next big challenge: Finding new revenue source in India","synopsis":"According to analytics company App Annie, Truecaller was the fourth most used app after WhatsApp, Facebook and Facebook Messenger, across Android and iOS devices in India last year.","titleseo":"telecomnews\/truecaller-cofounder-alan-mamedis-next-big-challenge-finding-new-revenue-source-in-india","status":"ACTIVE","authors":[{"author_name":"Shephali Bhatt","author_link":"\/author\/479230465\/shephali-bhatt","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479230465.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479230465,"author_name":"Shephali Bhatt","author_seo_name":"shephali-bhatt","designation":"Tech & Culture Reporter","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2018-02-25 18:44:42","lastupd":"2018-02-25 18:45:03","breadcrumbTags":["Trucaller app","Trucaller unlist","WhatsApp","trucaller india","Sunday ET","trucaller","trucaller revenue"],"secinfo":{"seolocation":"telecomnews\/truecaller-cofounder-alan-mamedis-next-big-challenge-finding-new-revenue-source-in-india"}}" data-news_link="//www.iser-br.com/news/truecaller-cofounder-alan-mamedis-next-big-challenge-finding-new-revenue-source-in-india/63068327">