The Telegram communications network has 900 million monthly active users, earns hundreds of millions of dollars through advertising and may soon be profitable. Its founder Pavel Durov told the Financial Times (FT), adding that he is considering a stock market entry.
Growth, Profit, and Ownership Dilemmas
The Dubai-based company has gradually become one of the most popular communications apps. Telegram introduced advertising and premium subscriptions two years ago. As recently as 2021, it had just half a million users.
“We hope to swing into profit next year, if not already this year,” the Russian-born founder told the newspaper in the first published interview since 2017. Durov fully owns Telegram. He ruled out selling the company, but mentioned that investors have offered him over $30 billion for it.
Telegram’s Monetization Strategy
“The main reason we started monetising the business is that we want to remain independent,” Durov told the newspaper. “Generally speaking, we see the (IPO – initial public offering) as a means to democratise access to Telegram’s value,” he added.
Telegram was once largely home to a freewheeling cryptocurrency community. It has only about 50 full-time employees. Its popularity has skyrocketed in the past few years. It has become an important communication tool for governments and officials around the world, as well as a lifeline for people living in conflict zones.
Source: Czech Press Office
