Truecaller plans IPO, looks at raising $116 million

The 12-year-old company is reportedly aiming for a valuation of about $3 billion in the IPO

e4m by exchange4media Staff
Published: Sep 29, 2021 6:28 PM  | 1 min read
truecaller

Caller identification service provider Truecaller has reportedly said that it is looking to raise $116 million in an initial public offering on Nasdaq Stockholm.

The offering is expected to comprise new shares offered by the company and an offer for sale from certain existing shareholders who are selling a portion of their current shareholding of class B shares, according to media reports.

“One of our objectives this year has been to prepare Truecaller for an IPO. Thanks to the strong feedback that we’ve received from potential investors, it feels very exciting to take the next step in this process,” reports quoted Truecaller co-founder and chief executive Alan Mamedi as saying. 

The 12-year-old company is reportedly aiming for a valuation of about $3 billion in the IPO.

Founded in 2009 by Mamedi and Nami Zarringhalam, Truecaller claims to have 205 million monthly active users in India as of second quarter of 2021. Overall, Truecaller claims to have 278 million monthly active users (MAUs) across over 175 countries during the second quarter of 2021.

Among its key investors are Sequoia Capital India, Atomico, Kleiner Perkins, and OpenOcean. 

 

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