Telegram's Losses By End Of 2023 Amounted To $173 Million
Date
8/30/2024 3:10:34 PM
(MENAFN- AzerNews)
By Alimat Aliyeva
Telegram's revenues in 2023 reached 342 million US dollars with
an operating loss of 108 million, Azernews
reports.
According to the publication, Telegram's total losses after
taxes in 2023 amounted to about 173 million US dollars.
The financial losses were partially offset by the growth of
digital assets on its balance sheet, the total value of which
reached almost 400 million US dollars in 2023.
In 2024, the company also sold native Toncoin coins worth about
$244 million in cash.
Telegram, as the publication notes, is fully owned by Durov, who
owns a multibillion-dollar cryptocurrency fortune, the company has
also raised about $2.4 billion in debt financing with a maturity in
2026. This amount includes the placement of bonds for 1 billion US
dollars in 2021. Among the investors are Abu Dhabi sovereign wealth
funds.
The publication notes that the detention in France and the
indictment of the co-founder of the Telegram messenger Pavel Durov
deal a blow to the company's plans for a successful IPO, resulting
in large losses for securities holders.
Earlier, the newspaper reported on Telegram's intention to
launch an IPO in the next two years, possibly in the United
States.
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