 "Truecaller")
Phone directory app Truecaller on Tuesday said it has achieved profitability over the last four months with India contributing significantly to the growth. The Stockholm-based company has also crossed the 200 million monthly active users (MAUs)-mark globally. Of this, 150 million were from India.
"The aggressive growth in advertising sales and premium subscriptions in India have been a driving force in revenue generation," Truecaller said in a statement.
Premium subscriptions have grown immensely since it was launched a year back, it added.
"It has already crossed the 1-million mark and projected to grow by another 50 per cent in coming months," according to the statement.
Sandeep Patil, Managing Director at Truecaller, said the company has been profitable for the last several months while simultaneously growing revenues at over 70 per cent annually.
"We will continue to grow revenues through investments in advertisement, subscriptions, credit and financial services," he added.
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Patil said the company will "make in India for India by recruiting talent across technology, product management, data sciences and finance and by developing partnerships across the ecosystem".
"This is a concrete milestone on our path to build a financially-sustainable independent company that will be ready for an initial public offering (IPO) in three years," he noted.
Truecaller is also expanding its business portfolio with services like Truecaller for Business. Another feature being revamped is Truecaller Priority, which identifies relevant calls from businesses, thereby differentiating them from spam calls.
