Telegram founder says messaging app profitable for first time
The Hindu
The founder of Telegram, Pavel Durov, said that the platform had recorded a net profit for the first time in 2024.
The founder and chief executive of the Telegram encrypted messaging app Pavel Durov said on Monday that the platform had recorded a net profit for the first time in 2024, with annual revenue exceeding $1 billion.
"As I predicted, 2024 turned out to be a very good year for Telegram. For the first time in its 3-year history of monetisation, Telegram became profitable," Durov announced on his Telegram channel.
The messaging app, which says it has over 950 million users worldwide, had previously operated without fees but began offering paid subscriptions and showing adverts in 2021.
Durov said the move had helped reach revenues exceeding $1 billion, with subscribers to the app's premium service tripling to 12 million.
Dubai-headquartered Telegram had more than $500 million in cash reserves, excluding cryptocurrency assets, Durov said.
The company did not appear to have published any annual accounts to accompany Durov's statement.
In August, the Russian-born Durov was arrested in France and charged with failing to curb extremist and illegal content on Telegram.
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