Telegram, the encrypted messaging app, has achieved its first net profit in 2024, with annual revenues surpassing $1 billion. The app’s founder and CEO, Pavel Durov, shared this milestone in a post on his Telegram channel, celebrating the company’s success in its third year of monetization.
“For the first time in its three-year history of monetization, Telegram became profitable,” Durov stated, marking a significant achievement for the platform. Since initiating monetization efforts in 2021, including paid subscriptions and advertisements, Telegram has seen substantial growth. Its premium service has tripled in subscribers to 12 million this year alone, contributing to the platform’s impressive financial performance.
Durov further revealed that Telegram now holds more than $500 million in cash reserves, excluding cryptocurrency assets. However, despite the financial success, the company has not yet published detailed annual accounts to verify Durov’s claims.
The app, which boasts over 950 million users worldwide, has faced legal challenges, notably in France, where Durov was arrested and charged with failing to curb extremist content on the platform. Despite his legal troubles, Durov criticized French officials and maintained that misuse of the platform remains minimal, asserting that “99.999 percent” of Telegram’s users are not involved in criminal activity.
In response to concerns, Telegram has ramped up efforts to tackle problematic content by implementing artificial intelligence to block harmful material in search results.
