• Sweden's news in English
 
app_header_v3
Startups
Swedish unicorn app Truecaller sheds jobs
Truecaller co-founder Nami Zarringhalam. Photo: Christine Olsson/TT

Swedish unicorn app Truecaller sheds jobs

Maddy Savage · 11 Dec 2015, 16:14

Published: 11 Dec 2015 15:52 GMT+01:00
Updated: 11 Dec 2015 16:14 GMT+01:00

"We have let a number of consultants and few full-time employees go recently which is natural to any company in a high growth stage," Kim Fai Kok, Director of Communications for the company told The Local on Friday.
 
His comments came after an anonymous source emailed The Local suggesting that as many as 35 people had been fired due to "financial problems" at the firm.
 
Fai Kok did not immediately respond to a question about whether or not that figure was accurate.
 
The Nordic startup is a unicorn, which means its valuation has exceeded $1 billion dollars. It reported having 150 million users in July 2015, mostly in India.
 
Launched by Alan Mamedi and Nami Zarringhalam in 2009, the Truecaller app works by bringing together global directory services with crowdsourced information from users in order to create a database of phone numbers. This allows customers to be informed about who is calling them.
 
It also uses data analytics to offer services such as predicting who users might want to call based on their location or the time of day, as well as tools designed to block spam and generate automatic text messages.
 
The company makes its money through in-app purchases of its premium features as well as advertising.
Story continues below…
 
Last year it scored venture capital funding from Skype co-founder Niklas Zennström's Atomico investment firm. Kleiner Perkins Caufield & Byers, an investor in US messaging companies Twitter and Snapchat has also invested in the company.
 
The company reported sales of 6.7 million ($788,000) in 2014, Swedish media reported on Friday, alongside losses of almost 85 million kronor.

For more news from Sweden, join us on Facebook and Twitter.

Maddy Savage (maddy.savage@thelocal.com)

Today's headlines
Joe Biden to arrive in Sweden for refugee talks
Stefan Löfven meets Joe Biden during a visit to Washington in March 2015. Photo: Monica Enqvist/Government Offices of Sweden

US Vice President Joe Biden will arrive in Stockholm on Wednesday evening ahead of talks with Swedish Prime Minister Stefan Löfven that are expected to focus on migration and refugees.

Boy who attacked goalkeeper 'bet thousands' on game
Photo: Mikael Fritzon/TT

A 17-year-old boy who stormed the pitch and attacked a goalkeeper in Sweden’s top division earlier this month has claimed he had placed a large bet on the result.

Furious fireman lashes out at Malmö car arsonists
Firefighters battle a blaze in Malmö earlier this month. Photo: Johan Nilsson/TT

A fireman in Malmö has won praise across Sweden for calling out arsonists on the “bullshit” reasons behind a spate of car fires in the southern city.

See Stockholm spectacularly change through the seasons
A bright autumn day in Stockholm. Photo: Delphine Fortin

In order to help her long-distance relationship, one Stockholm-based blogger produced a fascinating visual illustration of the Swedish capital throughout the seasons.

Groped woman had 'gigantic breasts' - player cleared
File image (2010) of Björklöven players in a huddle. Photo: public domain

A former prosector said the reasoning was "absurd" and "illegitimate".

Sweden’s high-speed trains the least punctual in Europe
One of Sweden's high-speed trains during a delay in Stockholm. Photo: Janerik Henriksson/TT

It seems the Swedes are not quite so efficient after all.

Refugee crisis
Asylum seekers leaving Sweden in record numbers
The Swedish Migration Agency offices in Solna. Photo: Marcus Ericsson/TT

The large number of asylum seekers leaving Sweden in 2016 coincides with a dramatic fall in the number seeking asylum in the country compared to last year.

Long-term damage seen from brain injuries: Swedish study
A model of the human brain. Photo: Christine Olsson/TT

A study carried out in Sweden suggests that youths who suffer traumatic brain injuries are more likely to experience long-term psychological and social problems.

The Local List
30 Swedish movies you must see before you die
Thomas Hedegran and Rolf Lassgård in thriller The Hunters. Photo: Photo: Per Pettersson/TT

Film buff Christian Ekvall picks out 30 definitive Swedish movies you must see to understand the soul of the country's cinema.

Malmö police catch car arson suspect in the act
Another car blaze earlier this month. Photo: Johan Nilsson/TT

Malmö police have arrested a man after they caught him setting a vehicle alight in the Rosengård district as the city's spate of summer car fires continued.

Sponsored Article
Malmö to host global skateboard championship
National
Experts: Gothenburg grenade blast is 'part of a cycle of violence'
Sponsored Article
Life in Jordan: 'Undiscovered treasure'
Gallery
Property of the week: Karlsborg
National
Why Sweden could change its criticised detention laws
Blog updates

23 August

A Summer in Sweden (The Diplomatic Dispatch) »

"For our first year here in Sweden we decided to have all our holidays in Sweden.…" READ »

 

22 July

After the horror, carry on regardless (Globally Local) »

"This time last week, we were just digesting the horror of the Nice killings, in which…" READ »

 
 
 
Sponsored Article
The mystique of Asia - in the middle of Stockholm
National
Watch this dog's reaction when she tries Swedish fermented herring
Sponsored Article
Why you should learn to trade (and just how easy it is)
Gallery
People-watching: August 19th-21st
National
How to find student housing in Sweden
National
VIDEO: Swede films first Northern Lights of the season
Sponsored Article
6 reasons expats use TransferWise to send money
Gallery
People-watching: August 17th
Sponsored Article
'Sweden's Lauryn Hill' touches the country's musical soul
Society
Swedish population nears ten million
The Local Voices
This Syrian artist found love in a Swedish library
Sponsored Article
6 simple travel hacks that will make your life easier
National
Sex pigs halt traffic after laser attack on Pokémon teens. Only in Sweden.
Sponsored Article
Why expats choose international health insurance
Gallery
Property of the week: Hammarby Sjöstad, Stockholm
Society
Drunk knight detained in Stockholm
Sponsored Article
Five easy ways to travel more often
National
Can you solve this Swede's strange Star Wars mystery?
Sponsored Article
Why you should attend an international job fair
Gallery
People-watching: August 12th-14th
Sponsored Article
Five things Americans should know about voting abroad
National
Swedes cheer first snow of the season
Gallery
People-watching: August 10th
Sponsored Article
Jordan: where history meets adventure
The Local Voices
Syrian presenter: Swedish media should make more shows in Arabic
Sponsored Article
Life in Jordan: 'Undiscovered treasure'
Travel
Watch the meteor shower in Sweden
Sponsored Article
Jordan Pass: your ticket to the experience of a lifetime
Lifestyle
How to survive a crayfish party
Sponsored Article
Why Jordan is the ‘Different’ East
Gallery
IN PICS: Your Sweden summer snaps
Sponsored Article
6 simple travel hacks that will make your life easier
National
Why are fewer foreign graduates staying in Sweden to work?
Culture
This Swedish street artist's incredible murals will make your jaw drop
The Local Voices
Gabriel mastered Swedish and got accepted onto a medicine degree in just 7 months
3,373
jobs available