The Telegram messenger became profitable for the first time in its history – three years after the start of monetization of the platform. RBC writes about this with reference to statements by the founder of the service, Pavel Durov.
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“This year, the number of Telegram Premium subscribers has tripled, exceeding 12 million. Our advertising revenue has also grown several times. As a result, Telegram’s total revenue in 2024 exceeded $1 billion, and we are closing the year with more than $500 million in cash reserves, excluding crypto assets.”– said Pavel Durov.
The founder of Telegram added that during the year some innovations related to monetization were implemented on the platform, such as mini-applications, stars, gifts, Telegram Business, Telegram Gateway, etc. He believes that the positive dynamics of the service is proof that “social media platforms can achieve financial sustainability by remaining independent and respecting user rights”.
Telegram’s financial statements indicate that last year the service’s revenue amounted to $342 million, with operating expenses amounting to $108 million and a loss after taxes of $173 million. In the first half of this year, Telegram’s advertising revenue amounted to $120 million, which is more than double the figure for the same period last year. Subscription sales brought in $119 million, which is significantly more than the $32 million received in the first half of 2023. Overall, Telegram’s revenues grew to $353 million, with $348 million coming from the sale of the Toncoin cryptocurrency.
Against this background, Telegram is considering the possibility of an initial public offering on the stock exchange. Earlier this year, Durov stated that Telegram had received a preliminary assessment of “$30 billion or more” before a potential listing on the stock exchange.
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