Pavel Durov: Telegram’s 2024 Revenue Exceeds $1 Billion, Cash Reserves Surpass $500 Million
In Brief
For the first time since it began monetizing its platform, Telegram has achieved profitability, forecasting revenue over $1 billion while boasting more than $500 million in cash reserves, excluding its cryptocurrency holdings.
Founder of the messaging application Telegram , Pavel Durov announced that the company has achieved profitability for the first time since it began monetizing its services.
"As I forecasted, 2024 has turned out to be incredibly favorable for Telegram. For the first time in our three-year monetization journey, we are officially profitable,\" shared Pavel Durov on his Telegram channel.
In 2024, Telegram Premium saw a remarkable growth, with subscriber numbers tripling to over 12 million. Additionally, advertising revenue saw substantial growth, resulting in the company surpassing the $1 billion revenue mark, concluding the year with cash reserves exceeding $500 million, not accounting for cryptocurrency assets.
Over the past four years, Telegram has generated about $2 billion through debt issuance. This fall, the company took advantage of favorable bond market conditions to repay a significant amount of its debt. Nonetheless, Pavel Durov stressed that there is still considerable work ahead.
Some of the noteworthy innovations Telegram rolled out this year include Stars, Gifts, Giveaways, Mini Apps, the Affiliate Platform, Telegram Business, and Telegram Gateway. Durov pointed out that these new features demonstrate how social media platforms can achieve financial viability while maintaining independence and respecting user rights.
Telegram Moves Closer To IPO
Telegram has grown into one of the most popular social media applications worldwide, earning \"hundreds of millions of dollars\" in revenue after launching advertising and premium subscription options a few years back. In 2023, the Financial Times reported that Telegram earned $342 million and attracted approximately 850 million monthly active users.
Earlier this year, Telegram's founder, Pavel Durov, discussed plans to prepare the company, which he currently owns outright, for either an initial public offering (IPO) or a potential acquisition by a major tech player. key challenge Telegram has received valuation offers surpassing $30 billion from interested investors, including prominent global technology funds. However, the company has opted to retain its independence and is leaning towards a future IPO as a strategic goal.
"The primary reason we initiated monetization was to ensure our independence,\" Durov explained previously. He also mentioned, \"We believe that pursuing an IPO could democratize access to Telegram's intrinsic value.\"
If an IPO materializes, Telegram might consider distributing a portion of its shares to its loyal user base, similar to Reddit's approach, which allocated shares to retail investors during its New York listing.
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