Telegram, the brainchild of founder Pavel Durov, is now celebrating a landmark achievement: profitability. In a recent announcement, Durov proudly shared that the popular messaging app’s total revenue is set to exceed $1 billion in 2024, marking a significant milestone in its financial journey.
The introduction of Telegram’s premium subscription service back in 2022 has been a pivotal factor in this success, attracting a whopping 12 million subscribers who willingly pay for an enhanced user experience. This influx of premium users has played a crucial role in bolstering the company’s financial health.
As the year draws to a close, Telegram is in a strong financial position with more than $500 million in cash reserves, even before considering its substantial crypto assets. This robust reserve not only highlights the company’s effective financial strategies but also solidifies its position in the tech industry.
Addressing past financial obligations, Durov revealed that the company has made significant strides in reducing its debt. Over the last four years, Telegram issued approximately $2 billion in debt bonds. However, this fall, they managed to repay a substantial portion of these obligations, seizing the opportunity presented by favorable bond prices. This strategic move not only reflects careful financial planning but also sets the stage for future growth.
While celebrating these successes, Durov acknowledges that there is still much to be done. His commitment to steering Telegram towards greater achievements remains unwavering. The future promises more challenges, but with this dynamic leadership, the app is well-prepared to tackle whatever comes next.
