2024-12-23T17:50:12.261+02:00
Monday, 23/12/2024 | 15:50 GMT by
Jared Kirui
- Founder Pavel Durov’s recent arrest in France highlighted the legal challenges the social media firm faces.
- Over half of Telegram’s revenue now comes from advertising, bolstered by partnerships with major brands like Samsung.
Pavel Durov, the Founder and CEO of Telegram
Telegram announced that its total revenue for 2024 surpassed $1 billion. The messaging app has endured significant legal,
financial, and ethical challenges this year. With a mix of cryptocurrency ventures, advertising
revenue, and subscription fees, Telegram is now poised to report its first-ever
profit, a milestone in its tumultuous history.
A Billion-Dollar Leap
Telegram’s financial breakthrough marks a stark
departure from years of skepticism about its business viability. Revenue is set
to surpass $1 billion this year, a leap from the $350 million reported last year.
Over half of the company’s income comes from
advertising, boosted by partnerships with major brands like Samsung. Paid
subscriptions, priced at $5 monthly, have attracted 12 million users.
According to a post by Founder Pavel Durov on X, Telegram has around
$500 million in cash reserves, excluding its crypto holdings. The company
leveraged its cryptocurrency, Toncoin, to pay down substantial debt, the New York Times reported.
Telegram is now profitable 🏆
📈 This year, the number of Telegram Premium subscribers tripled, exceeding 12 million. Our ad revenue also increased a few times. Telegram’s total revenue in 2024 surpassed $1 billion, and we are closing the year with more than $500 million in cash…
— Pavel Durov (@durov) December 23, 2024
Legal and regulatory scrutiny has long shadowed
Telegram. Founder Pavel Durov’s arrest in France this August amplified concerns
over the app’s role in hosting illicit activities, from child exploitation to
drug trafficking.
In response, Telegram has reportedly strengthened its content
moderation team, now employing over 750 contractors to address problematic
material. Despite these efforts, balancing advertiser and investor demands
while retaining its reputation as a digital free-speech space still presents a challenge.
Cryptocurrency has been a key lifeline for Telegram. This year, the company sold hundreds of millions of dollars worth of digital assets, including Toncoin. Telegram has further ambitions in the crypto space,
exploring features that would let users mine and trade cryptocurrencies
directly within the app.
The Road Ahead
Despite its achievements, Telegram’s future remains
uncertain. Durov, who is under investigation in France, faces potential jail
time if convicted. As Telegram’s sole owner and central figure, his legal
troubles cast a long shadow over the company.
I’m still trying to understand what happened in France. But we hear the concerns. I made it my personal goal to prevent abusers of Telegram’s platform from interfering with the future of our 950+ million users.
My full post below. https://t.co/cDvRSodjst
— Pavel Durov (@durov) September 5, 2024
Telegram has yet to outline a succession plan or
establish an independent board, leaving investors to question its long-term
stability. The company’s next big test lies in scaling its monetization efforts
while navigating legal challenges and user expectations.
For now, its $30 billion valuation and newfound
profitability signal a turning point. As Telegram looks to solidify its
standing with an IPO, its balancing act between profitability and
accountability will be closely watched by both its users and the financial
world.
In August, Durov was arrested by the French
authorities at Le Bourget airport. The 39-year-old billionaire was reportedly
detained after his private jet landed at the French airport. He was traveling
to France from Azerbaijan.
“Using laws from the pre-smartphone era to charge
a CEO with crimes committed by third parties on the platform he manages is a
misguided approach,” Durov previously commented. “I made it my
personal goal to prevent abusers of Telegram’s platform.”
Telegram announced that its total revenue for 2024 surpassed $1 billion. The messaging app has endured significant legal,
financial, and ethical challenges this year. With a mix of cryptocurrency ventures, advertising
revenue, and subscription fees, Telegram is now poised to report its first-ever
profit, a milestone in its tumultuous history.
A Billion-Dollar Leap
Telegram’s financial breakthrough marks a stark
departure from years of skepticism about its business viability. Revenue is set
to surpass $1 billion this year, a leap from the $350 million reported last year.
Over half of the company’s income comes from
advertising, boosted by partnerships with major brands like Samsung. Paid
subscriptions, priced at $5 monthly, have attracted 12 million users.
According to a post by Founder Pavel Durov on X,
