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Telegram, the encrypted messaging app, has recorded its first net profit in 2024, with annual revenues surpassing $1 billion, according to its founder and CEO, Pavel Durov.
Durov shared the milestone in a post on his Telegram channel, stating: “As I predicted, 2024 turned out to be a very good year for Telegram. For the first time in its three-year history of monetization, Telegram became profitable.”
The app, which claims over 950 million users globally, began monetising in 2021 by introducing paid subscriptions and advertisements. These efforts have fuelled significant growth, with subscribers to its premium service tripling to 12 million this year.
Durov highlighted that Telegram’s annual revenue exceeded $1 billion and that the company now holds more than $500 million in cash reserves, excluding cryptocurrency assets.
Despite this financial success, Telegram has not published detailed annual accounts to corroborate Durov’s claims.
In August, the Dubai-based app’s founder faced legal challenges in France. Durov, who holds French citizenship, was arrested and charged with failing to curb extremist and illegal content on the platform.
Released on strict bail conditions, including reporting to authorities twice a week, Durov criticised French officials, calling their approach “misguided.”
However, he acknowledged that Telegram’s rapid expansion had made it easier for criminals to misuse the platform.
In response, Telegram has intensified its efforts to address problematic content. Durov revealed that the company now employs artificial intelligence to block harmful material in its search features, ensuring such content is no longer accessible.
Durov maintained that misuse of the platform remains minimal, asserting that “99.999 percent” of Telegram’s users are not involved in criminal activity.
The app has built its reputation on strong privacy protections, which have also drawn criticism from governments over its use by criminal networks.
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English (US) ·