Telegram founder Pavel Durov said on Monday that the company is now profitable. Durov said the chat app's total revenue will exceed $1 billion in 2024.
The company launched its premium subscription service in 2022 and currently has 12 million paying users. Durov also said the app will end the year with more than $500 million in cash, not including crypto assets.
Telegram's CEO said the company paid down a large amount of debt this fall.
“Over the past four years, Telegram has issued approximately $2 billion in debt. We took advantage of the favorable price of Telegram bonds and repaid a significant amount this fall. Needs work,” Durov said in a post on X.
Earlier this year, Durov said in an interview with the Financial Times that the company aims to reach profitability in 2025 and go public in the future.
Telegram, which has more than 950 million monthly active users, is launching features for enterprises, adding an ad revenue sharing service, allowing creators to earn money through paid content on their channels, and launching a mini app store. I raised it.