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Truecaller slashes 70 jobs amid declining ad sales

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Sweden-based caller ID company Truecaller said it will cut 70 jobs, or roughly 15% of its workforce, in the second quarter, as the company posted its Q1 2026 results with a decline in revenue and profits. Truecaller blamed real-money gaming in India, changes in advertising partner algorithms, and conflict in the Middle East for the slide.

As TechCrunch reported last month, the company is already facing challenges from India’s telecom-led solutions, such as Calling Name Presentation (CNAP) identification service, and 5% year-on-year decline in downloads last year.

In its Q1 2026 results, Truecaller’s net sales dropped 27% to 362 million SEK ($39.34 million). In its biggest market, India, net sales dipped by 41% year-on-year. In addition, ad revenues declined by 44%.

“The year-on-year comparison looks especially weak given that Q1 and Q2 last year included a large contribution coming from the real money gaming sector in India in connection with the IPL season that takes place around this time. The situation in the Middle East also reduced our revenues from that region,” Truecaller CEO Rishit Jhunjhunwala said during the earnings call.

Last August, India banned real-money gaming apps such as Dream 11 and MPL that allowed users to use money to play fantasy sports. Industry bodies estimated that the real-money gaming industry was worth $23 billion in India. Because of this shutdown, platforms on which these real-money apps are advertised were deprived of that revenue.

Truecaller also said that the revenue decline in the ad business was also due to a programmatic partner, identified as Google by an analyst earlier this year, changing its algorithms.

There were only a few positives for the company this quarter. First, it crossed the mark of 500 million active users. Plus, its subscription revenue increased by 27%, representing 31% of net sales. The company has been adding features like AI Assistant and Family Protection to make its paid offerings more attractive.

Truecaller’s stock has dipped by over 26% this year and by over 79% in the last 12 months. However, after the Q1 results, it has seen some recovery.

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Dangote Cement suspends proposed London listing

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Dangote Cement Plc has put its proposed listing on the London Stock Exchange on hold, citing current market conditions and the company’s strategic priorities.

The company disclosed this in a regulatory filing signed by Edward Imoedemhe, the company secretary, following a meeting of its board of directors on Tuesday.

In May, Dangote Cement announced it was in early talks over a potential London listing, a move that would help widen its access to overseas investors and capital.

The company later, in July, explained that the faster and more practical listing process in the United Kingdom influenced its preference for London over Dubai for the secondary listing.

On Tuesday, the cement producer said it will not proceed with the secondary listing, noting that its shares remain listed on the Nigerian Exchange Group, and that the decision will not affect the company’s operations.

“The Company’s ordinary shares remain listed on the NGX, and this decision does not in any way affect the Company’s operations or business plans,” Dangote Cement added.

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READ ALSO: Dangote Cement’s nine-month profit jumps 31% as revenue hits N3.8 trillion

The company said it will remain focused on delivering sustainable value to its shareholders and building on its strong market position.

Dangote Cement is majority-owned by Africa’s richest man, Aliko Dangote, who launched the continent’s largest-ever initial public offering in September for his oil refinery.

Dangote Cement, with a production capacity of 55 million tonnes per annum, has a footprint in 11 African countries, including Cameroon, Ethiopia, Zambia, Tanzania, and Côte d’Ivoire, among others.

The corporation’s nine-month profit in 2026 jumped 31 per cent, while its revenue hit N3.8 trillion, boosted by improved revenue from cement and clinker sales.


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X launches its own clipping feature to spur influencer engagement

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Over the past few years, X has released a number of features to make itself a friendlier hub for influencers. The latest effort to attract social media talent? Its own clipping tool.

Clipping is the pivotal social media technique by which longer videos are spliced into TikTok-attention-span length “clips” and then strategically posted to engage as many eyeballs (and, thus, derive as much ad revenue) as possible.

On Monday, X announced the tool, which, from what we can tell, appears to be little more than a straightforward video-trimming feature that lets users edit videos and post them to X.

The site says that every clip includes a “Clip from” label that links back to the original video from which it was derived, allowing X users to see more about the creator and the creator’s content.

“Grab your favorite moment from any video, add your take, and post it without leaving X,” the company posted.

The platform added that both creators and clippers can “earn from views on the clip through Original Content Rewards,” X’s rewards program. The program is only available for eligible creators and pays out based on specific levels of audience engagement.

In many cases, influencers pay special firms to handle clipping for them. More and more large companies are also turning to such services to run marketing campaigns, and the technique has been used in political campaigns as well.

Over the last several years, X has tried to compete with other social sites by expanding the kind of content it supports. To take on sites like YouTube, X introduced long-form videos in 2022 (when the site was still known as Twitter), and they have since taken off on the platform. To be more like Substack, it long ago dispensed with the site’s traditional character limits and introduced long-form blog posts, which are available to premium subscribers.

X has kept at it this year. In March, it added a feature called “exclusive threads” that lets creators put parts of a thread behind a paywall so only subscribers can read them, and in July it launched a live-streaming studio and set aside $1 million for creators who go live.

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