app economy

Truecaller Cuts 15% of Workforce Following 44% Decline in Advertising Revenue

May 8, 2026

1 source

TechCrunch Apps

Truecaller Cuts 15% of Workforce Following 44% Decline in Advertising Revenue

Story Summary

Sweden-based Truecaller is laying off 70 employees, representing approximately 15% of its staff, after reporting a 27% drop in Q1 2026 net sales to 362 million SEK ($39.34 million). CEO Rishit Jhunjhunwala attributed the downturn to a 44% collapse in ad revenue, driven by India’s ban on real-money gaming apps and unfavorable algorithmic changes from programmatic partners. The company faces mounting pressure in its primary Indian market from telecom-led identification services and a 5% year-over-year decline in downloads. Despite these headwinds, Truecaller reached 500 million active users and saw a 27% increase in subscription revenue. The firm is now pivoting toward AI-driven features to bolster its paid offerings as it navigates a 79% decline in stock value over the past year.

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Polygon·May 10, 2026

consumer services

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The Verge·May 10, 2026

gaming

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Polygon·May 10, 2026

lifestyle

Vogue Highlights Post-Met Gala Celebrity Fashion Trends for the Week of May 10, 2026

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Vogue·May 10, 2026