Sweden’s Truecaller appoints new chairman ahead of potential IPO

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By Supantha Mukherjee

BENGALURU, Sept. 2 (Reuters) – Swedish mobile phone directory and caller ID service Truecaller on Thursday appointed venture capital firm Kleiner Perkins Caufield & Byers partner Bing Gordon on Thursday as new president, replacing Nami Zarringhalam.

Zarringhalam, who co-founded Truecaller with Alan Mamedi in 2009, will remain on the company’s board of directors as well as its chief strategy officer.

Truecaller, which had raised funds from Sequoia, Atomico and Kleiner Perkins, is expected to go public soon, joining a list of other Swedish companies such as Klarna and Trustly looking to tap the public markets.

Gordon said the company will meet its goal of being IPO ready by the end of this year.

“An IPO is like getting a college degree, your parents think it’s done… but it’s really just the beginning,” Gordon said in an interview. “This is a time when Alan and Nami should provide their best leadership.”

Gordon, a former chief creative officer at Electronic Arts and currently a special advisor to Amazon’s board of directors, was involved with companies such as Duolingo when they went public.

Gordon and Zarringhalam both declined to comment on the timing of a potential IPO and which exchange Truecaller would list.

Sources previously told Reuters that the company was aiming to be listed in Sweden or the United States and was seeking a valuation of more than $ 1 billion.

The profitable company has around 280 million monthly active users and counts India as its largest market. It derives its income from advertising and subscription services. (Reporting by Supantha Mukherjee; Editing by Stephen Coates)


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