Truecaller invests in game development company Mayhem Studios

Truecaller acquires 4+ percent of the shares in the Singapore -based game development company Mayhem Studios Private Ltd. for roughly SEK 30 million . The company focuses on developing mobile games for the Indian market. Other investors include Sequoia and Mobile Premier League.

"Truecaller has a unique position in India with approximately 250 million users and is today one of India's most used apps. Mayhem Studios is an exciting company which is well positioned to take market share in the fast-growing Indian market for mobile games. We also see that the collaboration with Mayhem Studios will give us valuable insights into how we can create added value for our advertising partners. Our ambition is that this, in addition to being a good investment, should contribute to us being able to build a stronger position for Truecaller's advertising platform within the mobile gaming market" says Nami Zarringhalam , co-founder and Chief Strategy Officer at Truecaller.

The Indian mobile gaming market is expected to grow strongly from USD 2.8 billion in 2022 to USD 5 billion in 2025 and the number of players is expected to grow from 400 million in 2022 to 500 million in 2025. The availability of affordable mobile data coupled with increased smartphone penetration are two of the factors which is expected to contribute to the strong market growth.

The investment in Mayhem Studios Private Ltd. is expected to affect Truecaller's cash flow by roughly SEK 30 million during the second quarter of 2023. The investment is financed through existing cash.

For more information, please contact:
Andreas Frid ,
Head of IR & Communication
+46 705 290800
andreas.frid@truecaller.com

About Truecaller:

Truecaller (TRUE B) is the leading global platform for verifying contacts and blocking unwanted communication. We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies, especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for more than 338 million active users, with more than a billion downloads since launch and around 50 billion unwanted calls identified and blocked in 2021. Headquartered in Stockholm , since 2009, we are a co-founder-led, entrepreneurial company, with a highly experienced management team. Truecaller has been listed on Nasdaq Stockholm since 8 October 2021 . For more information, please visit corporate.truecaller.com

The following files are available for download:

https://mb.cision.com/Main/20429/3748710/1975340.pdf

Press release Mayhem Studios 230411

Cision View original content: https://www.prnewswire.com/news-releases/truecaller-invests-in-game-development-company-mayhem-studios-301794086.html

SOURCE Truecaller AB

News Provided by PR Newswire via QuoteMedia

GAMING00
The Conversation (0)
East Side Games

The Office: Somehow We Manage Mobile Game Available Now

East Side Games Group (TSX: EAGR) (OTC: EAGRF) (" ESGG " or the " Company "), Canada's leading free-to-play mobile game group, in collaboration with Universal Games and Digital Platforms, announced today the worldwide launch of The Office: Somehow We Manage on iOS and Android. The free-to-play idle game is inspired by NBC's critically acclaimed, Emmy® Award-winning U.S. version of The Office which is now streaming exclusively on Peacock.

Watch the launch trailer here .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
NorthStar Gaming Holdings (TSXV:BET)

NorthStar Gaming Holdings


Keep reading...Show less
Person holding phone that says "GameStop" in front of stock trading charts.

GameStop Frenzy Cools, E*Trade Considers Roaring Kitty Ban

GameStop (NYSE:GME) continues to cool following a trading frenzy that drove shares up by 75 percent between the close of trading last Friday (May 31) and the start of trading on Monday (June 3).

The brief rally, which took GameStop shares to US$40.09 on Monday morning, was sparked by a Reddit (NYSE:RDDT) post made late Sunday (June 2) by an account tied to the video game retailer's most prominent supporter, Keith Gill.

Gill, who ignited the meme stock craze in 2021 and is known as Roaring Kitty on other platforms, posted a screenshot on Reddit's Superstonk subreddit that shows a purported US$175 million position in GameStop shares and call options.

Keep reading...Show less
Cell phone showing GameStop stock chart.

GameStop Surges Over 70 Percent in Flashback to 2021 Frenzy

Over three years after the infamous GameStop (NYSE:GME) short squeeze, the American retailer’s share price skyrocketed as much as 110 percent on Monday (May 13) before pulling back to a more than 70 percent gain.

The surge came on the heels of a social media post by "Roaring Kitty," also known as Keith Gill. His first online appearance since 2021 has reignited memories of the meme stock frenzy that captivated markets in 2021.

Gill, who gained notoriety for his bullish stance on GameStop, posted a meme on X (formerly Twitter) depicting a focused video gamer. It received widespread attention, accumulating over 81,000 likes and 9,000 comments in just a few hours.

Keep reading...Show less
NorthStar Gaming Chairman and CEO Michael Moskowitz.

NorthStar Gaming Leverages Content to Create Engaged, Active Players, CEO Says

NorthStar Gaming (TSXV:BET,OTCQB:NSBBF) is leveraging its rich, compelling content to better engage its customers, which ultimately leads to higher revenue, said NorthStar Chairman and CEO Michael Moskowitz, following an earlier announcement that the company is rolling out enhancements to the Sports Insights content on its platform.

“From the time that we founded NorthStar Gaming, we took the view that providing compelling content would lead to higher engagement with our customers,” he said. "And we're finding just that. We're planning to launch Sports Insights 2.0 in the first half of 2024 with redesigned sports and homepages, live scoreboards and tickers, live odds, trending topics and a greater tie-in in terms of the player journey and promotional offers that we provide to them."

Moskowitz noted that leveraging content helps attract new customers, with several media organizations using the company’s content on their own sites. “Ultimately, these articles and this content will help to create awareness around the NorthStar Bets brand and platform, and ultimately drive traffic to our site, which will convert into revenue.”

Keep reading...Show less
hand touching phone

Game-changing Prospects for the iGaming Market

iGaming has grown considerably in recent years. Driven by innovations in web technology and a changing regulatory landscape, online casinos and sportsbooks are more popular than ever.

To understand how the landscape may change moving forward, investors should assess how the industry has evolved in recent years.

Keep reading...Show less
smartphone on podium

Top Trends Shaping the Canadian iGaming Market

From emerging technologies to evolving regulations, the trajectory of iGaming has changed substantially in recent years as the market has experienced significant growth.

In 2022, Ontario's provincial government introduced game-changing legislation that established a regulatory framework for iGaming. Due to this legislation, regulated iGaming successfully displaced the unregulated market, according to Attorney General Doug Downey, creating over 1.6 million active player accounts across more than 70 operator websites as of April 2023 — just over one year following the change.

Ontario's regulation has also laid the groundwork for widespread change in the iGaming space across Canada. As iGaming continues to evolve, it's important to have a deeper understanding of both new and existing trends that will shape the industry's future, as well as regulations.

Keep reading...Show less

Latest Press Releases

Related News

×