• 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
Ibrahimovic confirms Manchester United move
Ibrahimovic playing for Sweden at Euro 2016. Photo: Thanassis Stavrakis/TT

Swedish striker Zlatan Ibrahimovic has put months of speculation over his future to an end by confirming that he will join Manchester United.

Man detained in Sweden over poison plot
Uppsala University. Photo: David Naylor/Uppsala universitet

The case, which involved assistance from the FBI, regards poisonous substance ricin that was allegedly stolen from Uppsala University to aid a blackmail plot.

Fifty Stockholm heart patients hit by superbug
Staff check air quality in an operating theatre at Karolinska University Hospital. Photo: Gary Fabbri

A potentially deadly antibiotic-resistant bacteria has spread to more than 50 heart patients at Karolinska University Hospital in Solna, Stockholm.

Two jailed for match-fixing in Swedish football
Photo: Björn Lindgren/TT

A Swedish appeals court has jailed two football players and handed suspended sentences to four others for their involvement in a match-fixing scandal.

How many Swedes were unfaithful last year?
Photo: Sandra Qvist/TT

It kind of depends how you define it.

Brexit
'A Swedish passport means more than a British one now'
A Swedish passport. Photo: Jessica Gow/TT

The Local spoke to Brits living in Sweden on how they feel about the Brexit vote, one week on.

Want a job? Here’s where Sweden needs people
Nurses are in high demand in Sweden. Photo: Lars Pehrson/SvD/TT

It’s not always easy to find work in Sweden, but there are quite a few professions crying out for new workers in the coming year.

Top Swedish businesswomen slam boardroom quota plan
Antonia Ax:son Johnson opposes the plan. Photo: Jessica Gow/TT

It's a slippery slope, they say.

What's on in Sweden
Five great ways to kick off July in Stockholm
A ghost walk in Gamla Stan is one way to kick off July in Stockholm. Photo: Jeppe Wikström/Visit Stockholm

From Vikings to ghosts, music and more: The Local looks at five great ways to kick off July in Stockholm.

In pictures: Eight cool compact Scandinavian houses
Houzz.se editor Sara Norrman rounds up some neat but great Scandinavian houses. Photo: Sommarnöjen

Size isn't everything, and Houzz.se's editor in chief Sara Norrman proves it with this looks at nine brilliant uses of compact Scandinavian houses.

Sponsored Article
5 reasons you should try dating with The Inner Circle
Business & Money
Swedish banknotes expire this week
Sponsored Article
Why Swiss hospitality graduates are in demand
Gallery
People-watching: June 29th
International
Foul-mouthed attack on young Swedish mother in England
Blog updates

28 June

A message for British expats in Sweden (The Diplomatic Dispatch) »

"The people of the United Kingdom have voted to leave the European Union. As Prime Minister…" READ »

 

10 June

i lördags, på lördag – time phrases for present, past and future (The Swedish Teacher) »

"Hejsan! Swedish time phrases can be difficult to master. It takes a lot of practice to…" READ »

 
 
 
Private
The Local Voices
'Having a Middle Eastern name makes life in Sweden hard'
Sponsored Article
International students in Stockholm partner with Nepal school
National
Is this Swede the new Vincent van Gogh?
Politics
Citizenship applications up 500% for Brits in Sweden
National
The humble Swede who sent England home from Euro 2016
Sponsored Article
Why you should attend an international job fair
Gallery
Property of the week: Torhamn
Sponsored Article
Avoid hidden fees when sending money overseas
Private
The Local Voices
'Sweden is the best place for people with special needs'
International
'A morning of sorrow': Sweden reacts to Brexit vote
Sponsored Article
Education abroad: How to find an international school
International
Sweden opposition cools talk of 'Swexit' poll
Sponsored Article
The man behind Sweden's biggest music festival
International
'Devastated' - Brits in Sweden shocked by Brexit vote
Gallery
People-watching: June 22nd
Sponsored Article
US expats: Have you met your tax deadlines?
Private
The Local Voices
'Swedes don't treat me differently because I wear a hijab'
Sponsored Article
Malmö: Home to the best food in Sweden?
Culture
How do Swedes celebrate Midsummer?
Sponsored Article
VIDEO: Why Malmö is the world's 6th best city for biking
Culture
Coming soon: Sweden’s smelly fermented fish
Sponsored Article
5 reasons you should try dating with The Inner Circle
National
Assange lawyer: Sweden should recognize UN opinion
Private
The Local Voices
Why is this Syrian dentist who hugs like a Swede worried about undies?
Sponsored Article
6 simple travel hacks that will make your life easier
Swedish nationalist 'shot and ate' lion and giraffe
Analysis & Opinion
'Sweden's residency revamp is harmful and inhumane'
Photo: The Local
The Local Voices
UNHCR boss: 'It's hard to start your life without your family'
Politics
VIDEO: Brits in Europe say why UK should stay
Photo: Marko Risović
The Local Voices
World Refugee Day: Searching for safety in Europe - in pictures
3,366
jobs available
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
psdmedia.se