403
Sorry!!
Error! We're sorry, but the page you were
looking for doesn't exist.
Telegram Hits $1 Billion Revenue: From Debt To Profit In 2024
(MENAFN- The Rio Times) Telegram, the messaging app known for its privacy-focused approach, has reached a significant milestone. For the first time since its launch in 2013, the platform turned a profit in 2024.
This achievement comes after years of financial struggles and mounting debt. The company's revenue surpassed $1 billion, a substantial increase from $350 million in 2023.
Telegram now boasts over 950 million users worldwide. The platform's success stems from its diverse monetization strategies. These include premium subscriptions, advertising, and cryptocurrency ventures.
Telegram's premium service has seen remarkable growth. The number of subscribers tripled in 2024, reaching 12 million users. Each subscriber pays $5 monthly for exclusive features.
Advertising revenue also played a crucial role in the company's financial turnaround. The platform's founder, Pavel Durov, announced these results with pride. He revealed that Telegram now has over $500 million in cash reserves.
This figure excludes the company's cryptocurrency assets. Durov also mentioned that Telegram has repaid a significant portion of its $2 billion debt.
Telegram's Path to Profitability
However, Telegra 's journey to profitability has not been without challenges. The platform faces ongoing scrutiny from governments worldwide. Concerns about content moderation and potential misuse by criminal elements persist.
In August 2024, French authorities arrested Durov on charges related to illegal content on Telegram. This incident highlighted the delicate balance between free speech and platform responsibility.
Durov has since been released on bail but faces travel restrictions. Telegram's approach to content moderation differs from other social media giants. The company employs over 750 contractors to oversee user-generated content.
It has also implemented AI-powered tools to identify and remove problematic material. The platform's success in the cryptocurrency space has been a key factor in its financial recovery.
Telegram has sold hundreds of millions in digital assets, including Toncoin. These crypto ventures have helped the company address its debt and improve liquidity.
This achievement comes after years of financial struggles and mounting debt. The company's revenue surpassed $1 billion, a substantial increase from $350 million in 2023.
Telegram now boasts over 950 million users worldwide. The platform's success stems from its diverse monetization strategies. These include premium subscriptions, advertising, and cryptocurrency ventures.
Telegram's premium service has seen remarkable growth. The number of subscribers tripled in 2024, reaching 12 million users. Each subscriber pays $5 monthly for exclusive features.
Advertising revenue also played a crucial role in the company's financial turnaround. The platform's founder, Pavel Durov, announced these results with pride. He revealed that Telegram now has over $500 million in cash reserves.
This figure excludes the company's cryptocurrency assets. Durov also mentioned that Telegram has repaid a significant portion of its $2 billion debt.
Telegram's Path to Profitability
However, Telegra 's journey to profitability has not been without challenges. The platform faces ongoing scrutiny from governments worldwide. Concerns about content moderation and potential misuse by criminal elements persist.
In August 2024, French authorities arrested Durov on charges related to illegal content on Telegram. This incident highlighted the delicate balance between free speech and platform responsibility.
Durov has since been released on bail but faces travel restrictions. Telegram's approach to content moderation differs from other social media giants. The company employs over 750 contractors to oversee user-generated content.
It has also implemented AI-powered tools to identify and remove problematic material. The platform's success in the cryptocurrency space has been a key factor in its financial recovery.
Telegram has sold hundreds of millions in digital assets, including Toncoin. These crypto ventures have helped the company address its debt and improve liquidity.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Most popular stories
More Story
Comments
No comment