Truecaller’s co-founders, Alan Mamedi and Nami Zarringhalam, are handing over the reins of the globally popular spam-blocking app to Rishit Jhunjhunwala, who has led the company’s India-focused initiatives as product chief. This leadership change, set to take effect in January, coincides with renewed momentum for the app, which is nearing half a billion users.
Mamedi, who co-founded Truecaller with Zarringhalam in 2009, expressed confidence in reaching a billion users in a few years. “We are one of the very few companies globally whose product has managed to attract hundreds of millions of people. By doing that, we have put sweden on the world map, [and] that accomplishment is something my co-founder Nami and I are incredibly proud of,” he said. Though they will be stepping down from their roles, both founders will remain involved as board members and strategic advisors, continuing to support the company’s ambitious goals.
Jhunjhunwala, who joined Truecaller in 2015 and now holds a Swedish passport, inherits a company that has bounced back after financial setbacks. Truecaller’s shares, which took a severe hit after its 2021 IPO and a 32% plunge last year due to falling ad revenues, have now nearly doubled in value. Recent third-quarter results highlighted an encouraging 15% increase in revenue, bolstered by an 8% rise in advertising revenue.
Implications for indian Customers
Truecaller’s influence in india is profound; the country remains one of the largest markets for the app. Jhunjhunwala’s promotion could indicate a renewed focus on enhancing the user experience and tailoring features for the indian audience. Truecaller is a vital tool for indian users, who face some of the world’s highest rates of spam calls, with the app reporting over 100 million calls identified daily in the country.
With Jhunjhunwala at the helm, Truecaller is expected to expand features relevant to india, such as enhanced caller identification and localized spam-blocking technologies that address region-specific trends. The company’s rebound in advertising revenue could benefit indian customers too, as additional revenue may support development of premium services and new features aimed at countering India’s complex spam landscape.
A Global Focus with indian Roots
While Truecaller has shown growth in newer markets like colombia and Nigeria, it remains deeply tied to its success in India. Subscription revenue has also seen strong gains in the U.S., pointing to the potential for converting free users in india to paid subscribers by expanding premium features. As Truecaller seeks to reach one billion users, the app’s indian user base could play a critical role in driving that growth, with the app poised to innovate further in response to India’s unique telecommunications environment.
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