Telegram's profits surpass USD1B in 2024
Date
12/24/2024 12:44:29 AM
(MENAFN) On Monday, the head administrative officer of the company announced that the texting platform Telegram achieved remarkable financial success, with its profits exceeding USD1 billion this year.
Pavel Durov, the founder and CEO, shared this news in a post on Telegram. "We are closing the year with more than USD500 million in cash reserves, not including crypto assets," he wrote, highlighting the company's strong financial position.
Durov described 2024 as an exceptional year for Telegram, fulfilling his earlier predictions about the platform's growth and success. For the first time since the company began its monetization journey three years ago, Telegram has become a profitable enterprise, marking a significant milestone in its history.
He further revealed that the number of Telegram Premium subscribers experienced substantial growth in 2024, with the total surpassing 12 million users. This surge in subscriptions underscores the platform's increasing popularity and user engagement.
Durov also addressed the company's financial strategy over the past several years. "Over the past four years, Telegram has issued about USD2 billion in debt," he noted. He explained that the company took advantage of favorable bond prices this fall to repay a significant portion of that debt, reflecting prudent financial management. "But there’s a lot of work ahead," Durov added, indicating that Telegram is focused on maintaining its momentum and addressing future challenges.
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