Source: TechCrunch
Summary
Truecaller, a caller ID and spam blocking service, has laid off an undisclosed number of employees due to a 44% decline in ad revenue. The company said the move was necessary to “ensure the long-term sustainability of the business.” Truecaller reported 338 million monthly active users in 2022. The layoffs follow a restructuring effort announced in February. The company’s ad revenue declined from $130 million to $73 million in 2022.
Our Reading
The announcement sounds ambitious.
Truecaller’s ad revenue takes a hit, and the company responds with layoffs. Because that’s always the solution. The “long-term sustainability of the business” is just code for “we can’t make our ad model work.” Truecaller’s user base is still growing, but apparently, that’s not enough. The company’s restructuring effort is just a nice way of saying “we’re trying to figure it out as we go.”
Author: Evan Null
