In an effort to tap on the start-up system in India and open a new revenue stream, phone number identification app Truecaller is planning to get into tie-ups with e-commerce giants such as Snapdeal, Flipkart and other online players which require phone number verification on their customers and other related services.
The company also said they hope to have 200 million users in India by the end of this year. Currently, they have 120 million users in the country, which is the company’s biggest market. It has 200 million users globally.
Alan Mamedi and Nami Zarringhalam, founders of the Stockholm, a Sweden-based company founded in 2009, are in India with a number of start-ups. Last month Truecaller introduced a new software development kit (SDK) on Thursday that lets third party applications verify users via phone numbers. “We want to personlise e-commerce for the users and that is where we want to pitch in. We want the company and the customer to be connected better, starting from first contact to last-mile delivery,” said Mamedi.
TrueSDK, a software development kit is the first product from the company for the app developer community that enables third-party apps to easily on board users with their existing Truecaller profile and verified phone numbers. Developers can use the service to sign up, update user information, or verify user’s phone number identity in their mobile apps through user consent.
“TrueSDK for us was the first stepping stone and the reason we built it was a lot many developers asked us on how they could use Truecaller. They asked why they have to build an infrastructure around verifying phone numbers and bear the cost of doing the same, when someone else has already done so as Truecaller is a directory of verified phone numbers,” added Mamedi.
While Mamedi did not give out any names but sources in the company said that they have had talks with a number of companies including major e-commerce players such as Flipkart and Snapdeal to get into tie-ups with them
“We have had a series of engagements with a number of start-ups including e-commerce companies in topline category and they have shown a lot of interest in the product,” said Kari Krishnamurthy, Vice President, Growth and Partnerships, Truecaller. The company already has around 12 major start-up clients which includes Quikr, Mobikwik, redBus, CarDekho, BharatMatrimony.Com, ixigo and OYO Rooms. It is in talks with as many as 40 more companies.
TrueSDK helps users quickly use their credentials that are already verified with Truecaller to easily engage with third party apps of their choice, the company officials said.
The company till now has two primary sources of revenue which include premium accounts as well as inline advertisement. The company also said that they are cash rich and do not require any immediate funding. It has till now raised around $80 million from investors including Sequoia Capital, Atomico and Kleiner Perkins Caufield Byers.