Truecaller to launch IPO by listing its Class B shares

It is being planned by Truecaller to list its Class B shares on Nasdaq Stockholm.

On Wednesday, Truecaller said in a statement that it would be soon launching its Initial Public Offering (IPO) by listing its Class B shares, which will depend upon the market condition, the company is looking forward to completing the listing by the fourth quarter of this year.

The following are things you must know about the company:

  • Other Swedish companies such as Klarna and Trustly that are considering tapping the public markets, will be joining Truecaller with the IPO.
  • For growing its business in existing markets and entering new ones about 1 billion Swedish crowns are planned to be used by Truecaller for gross proceeds.
  • More than 10% of the Truecaller was owned by its employees, among investors Sequoia, Atomico, OpenOcean, and Kleiner Perkins.
  • India has been counted as the biggest market by the company, which has been profitable, has about 280 million monthly active users, and earns revenue by advertising and subscription services.
  • In 2009, the company was founded by Nami Zarringhalam, and Alan Mamedi, Bing Gordon, has been appointed as the new chairman, replacing  Zarringhalam.

“In some of the Western markets like the U.S. we have seen good traction and we believe that over time those markets will become more interesting for us and we have already started some investments into these markets,” said Mamedi to news agency Reuters. It is being planned by Truecaller to list its Class B shares on Nasdaq Stockholm.

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