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	<title>Truecaller &#8211; India Chron</title>
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		<title>Truecaller plans to launch IPO: 10 things to know</title>
		<link>https://indiachron.com/business/truecaller-plans-to-launch-ipo-10-things-to-know/</link>
		
		<dc:creator><![CDATA[Himanjali Mahanta]]></dc:creator>
		<pubDate>Thu, 16 Sep 2021 06:03:49 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[IPO]]></category>
		<category><![CDATA[Plan]]></category>
		<category><![CDATA[Truecaller]]></category>
		<guid isPermaLink="false">https://indiachron.com/truecaller-plans-to-launch-ipo-10-things-to-know</guid>

					<description><![CDATA[Truecaller on Wednesday announced that it would be soon launching its Initial Public Offering (IPO) by listing its Class B…]]></description>
										<content:encoded><![CDATA[<p>Truecaller on Wednesday announced that it would be soon launching its Initial Public Offering (IPO) by listing its Class B shares. The company said in a statement today, depending on market conditions, the listing is expected to be completed during the fourth quarter of this year.</p>
<p>Here are the 10 things to know about the company:</p>
<ul>
<li>With the IPO, Truecaller will be joining a list of other Swedish companies such as Klarna and Trustly that are looking to tap the public markets.</li>
<li>Truecaller plans to use gross proceeds of about 1 billion Swedish crowns ($116.08 million) to growing its business in existing markets and entering new ones.</li>
<li>Truecaller counts Sequoia, Atomico, OpenOcean, and Lleiner Perkins among its investors, and more than 10% of the company was owned by its employees.</li>
<li>The company, which has been profitable, has about 280 million monthly active users and counts India as its biggest market. It earns its revenue from advertising and subscriptions services.</li>
<li>The company was co-founded by Nami Zarringhalam and Alan Mamedi in 2009. Recently, Bing Gordon, a partner at venture capital firm Kleiner Perkins Caufield &amp;Byers, has been appointed as the new chairman, replacing Zarringhalam.</li>
<li>Zarringhalam will remain a member of the company’s board as well as its chief strategy officer.</li>
<li>Zarringhalam and Mamedi intend to control a majority of the company’s voting power through ownership of Class A shares, news agency Reuters reported.</li>
<li>Mamedi told news agency Reuters, “In some of the Western markets like the U.S. we have seen good traction and we have already started some investments into these markets.”</li>
<li>Truecaller is planning to list its Class B shares on Nasdaq Stockholm.</li>
<li>Gordon in an interview with Reuters had said, “This is a time where Alan and Nami would have to provide their best leadership.”</li>
</ul>
<p>&nbsp;</p>
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