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Durov announces Telegram turning profitable for first time
(MENAFN) Telegram has achieved its first profitable year, generating over $1 billion in revenue in 2024, co-founder and CEO Pavel Durov announced on Monday. This success marks the first profit since the company began monetizing its services. The growth was fueled by a significant increase in Telegram Premium subscriptions, which tripled to over 12 million, and strong advertising performance.
Durov also revealed that Telegram ended the year with more than $500 million in cash reserves, excluding crypto assets. The company has worked to reduce its financial obligations by repaying a significant portion of its $2 billion debt. Despite the positive results, Durov emphasized the need for ongoing efforts to sustain and build on this success.
However, Telegram has faced legal issues, with Durov being detained in Paris in August 2024 on multiple charges, including complicity in distributing child pornography and money laundering. The charges stem from concerns about the platform’s moderation policies. Telegram continues to grow, with 950 million active users as of July and a target to surpass one billion by the end of the year.
Durov also revealed that Telegram ended the year with more than $500 million in cash reserves, excluding crypto assets. The company has worked to reduce its financial obligations by repaying a significant portion of its $2 billion debt. Despite the positive results, Durov emphasized the need for ongoing efforts to sustain and build on this success.
However, Telegram has faced legal issues, with Durov being detained in Paris in August 2024 on multiple charges, including complicity in distributing child pornography and money laundering. The charges stem from concerns about the platform’s moderation policies. Telegram continues to grow, with 950 million active users as of July and a target to surpass one billion by the end of the year.
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