Telegram, the private messaging app that has nearly a billion users but is often under pressure from its lax content moderation policy, has turned a profit for the first time this year, its founder and CEO Pavel Durov revealed in a post on X yesterday (Dec. 23). . Durov was arrested in Paris earlier this year in connection with a number of criminal activities carried out through Telegram. The tech executive has denied the charges against him but must remain in France for the time being while he is under investigation. His company, meanwhile, is still running and apparently doing better than ever financially.
“Telegram’s total revenue in 2024 has exceeded $1 billion, and we close the year with more than $500 million, excluding crypto assets,” said the CEO, adding that his company’s recent progress in monetization “shows that the platforms communication can achieve financial sustainability while remaining independent and respecting users’ rights.”
Telegram’s newfound profit may have taken its leader by surprise. Durov told the Financial Times earlier this year that he hoped to see Telegram turn a profit by 2025. Meanwhile, Durov also expressed his company’s interest in eventually holding an initial public offering, which he described as “a way to democratize access to the Telegram Value.”
Telegram has more than 950 million monthly active users, 12 million of whom pay $5 per month for premium features. Despite tripling its paid subscription base by 2024, Telegram’s ad sales grew last year, according to Durov.
Privacy has long been a priority for Telegram, which offers strong encryption to keep its users’ conversations private. This feature, however, has turned the app into a breeding ground for illegal content on the platform related to the distribution of child pornography and illegal drugs. Combined with Telegram’s rating system, work on the secret messaging app has landed it in hot water with various governments over the years. The company has reportedly been ramping up its content policing efforts over the past year, hiring more than 750 content moderation contractors now, according to the New York Times.
Durov, 40, founded Telegram more than a decade ago. He previously made a name for himself by founding the social media platform VKontakte in his native Russia. Durov funded much of Telegram’s early operations through the $300 million VKontakte stake he sold in 2014. He later fled to Russia after refusing to share VKontakte user data with the Russian government. Durov currently has an estimated net worth of $15.5 billion
