Pavel Durov, the owner of Telegram, has disclosed that the messaging app is on the verge of becoming profitable, with an impressive user base of 900 million. Durov said in a recent interview with the Financial Times that the company, headquartered in Dubai, has experienced significant expansion. The introduction of advertising and premium membership services two years ago has resulted in the generation of “hundreds of millions of dollars” in revenue.
Durov conveyed a positive outlook for Telegram’s financial prospects, expressing the hope that the company will achieve profitability in the upcoming year, if not in the current year. The platform’s monthly active user base has had a significant increase, rising from 500 million at the beginning of 2021 to 900 million presently, showcasing its widespread global appeal.
Telegram Hits 900 Million Users
Although Durov has received lucrative proposals above $30 billion from possible investors, he is determined to maintain ownership of Telegram. He is currently considering the option of conducting an initial public offering (IPO) to make the platform’s worth accessible to a wider audience. Telegram, with a workforce of approximately 50 individuals, has proven essential for governments, officials, and citizens in conflict-ridden areas across the globe.
Nevertheless, the site has received criticism for serving as a fertile environment for criminal behavior, radicalism, and the dissemination of false or misleading information. Although there have been accusations of Kremlin influence, Durov has refuted assertions of any connections to the Russian government as “inaccurate.”
After co-founding VKontakte, Russia’s top social media platform, Durov’s dedication to freedom of speech motivated him to establish Telegram in 2013. Due to a disagreement regarding user data with Russian security agencies, Durov departed from Russia and was compelled to sell his VK shares.
Telegram is contemplating a potential listing on a US stock exchange once it becomes profitable and when market conditions are favorable. The company has secured almost $2 billion in debt funding through bond offerings, with provisions for bondholders to convert their debt into stock at a reduced price during the initial public offering (IPO).
Telegram intends to implement worldwide advertising and income sharing with channel creators as part of its strategy to diversify revenue sources. In addition, the introduction of corporate accounts and a “social discovery” function seeks to improve user engagement and create more potential for income.
Telegram recognizes the necessity for enhanced moderation procedures, particularly in the context of worldwide elections, despite its rebellious image. Nevertheless, Durov underscores the significance of upholding the liberty to express oneself and cultivating an environment that encourages the exchange of diverse opinions.
While WhatsApp has 1.8 billion monthly active users and Signal has 30 million users, Telegram is steadily establishing its unique position in the competitive messaging market. Telegram is dedicated to its basic ideas and is adjusting to changing market conditions as it strives to become profitable and considers going public through an IPO.
