Popular caller identification service Truecaller has hit 200 million month to month active users, revealed the company earlier today. Most of the company’s user base resides in India, with the country now accounting for over three-quarters of the total monthly active users.
Truecaller’s co-founder and CEO also said they were profitable in the last quarter of 2019 ending December. The major contributor to Truecaller’s profitability is still in serving ads but the premium subscription service that offers an ad-free experience is gaining traction as well, according to the company’s CEO.
To date, the subscription service accounts for 30 percent of the total revenue generated by the firm.
The company is looking into ways to increase profitability as it plans to expand its payment service – solely available in India at the moment – to more countries specifically in Africa. This will be in addition to the several types of services the company has introduced on the platform including a money transfer service, VoIP, instant messaging and more in India.
Apart from that, the company also wants to dip its toes into the lending business in India as they continue to leverage the numbers they got in the country. The lending service will be launched in a few weeks said Alan Mamedi.
IPO Coming
Truecaller’s CEO reveals that the current achievements prepare them “to build a financially-sustainable independent company that will be ready for IPO in three years.”