Telegram, the private messaging app with almost a billion users but often under fire for its relaxed content moderation policy, turned a profit for the first time this year, its founder and CEO Pavel Durov disclosed in a post on X yesterday (Dec. 23). Durov was arrested in Paris earlier this year in connection to a wide range of criminal activities enabled through Telegram. The tech executive has denied the charges against him but must remain in France for the time being while under investigation. His company, meanwhile, has remained operational and is apparently doing better than ever on the financial front.
“Telegram’s total revenue in 2024 surpassed $1 billion, and we are closing the year with more than $500 million in cash reserves, not including crypto assets,” said the CEO, adding that his company’s recent advances in monetization “demonstrate that social media platforms can achieve financial sustainability while staying independent and respecting users’ rights.”
Telegram’s newfound profitability might have even taken its leader by surprise. Durov told the Financial Times earlier this year that he hoped to see Telegram turn a profit by 2025. At the time, Durov also hinted at his company’s interest in eventually holding an initial public offering, which he described as “a means to democratize access to Telegram’s value.”
Telegram has more than 950 million monthly active users, 12 million of which pay $5 per month for premium features. Besides tripling its paid subscription base throughout 2024, Telegram’s ad sales shot up over the past year, according to Durov.
Privacy has long been a key focus for Telegram, which offers heavy encryption to keep its users’ conversations confidential. This feature, however, has also turned the app into a breeding ground for illicit content on the platform related to the distribution of child sexual abuse material and illegal drugs. Combined with Telegram’s hands-off approach to moderation, activity on the private messaging app has landed it in hot water with various governments over the years. The company has reportedly been bolstering its content policing efforts in the past year, employing more than 750 content moderation contractors now, according to the New York Times.
Durov, 40, co-founded Telegram more than a decade ago. He previously made a name for himself by establishing the social media platform VKontakte in his home country of Russia. Durov funded much of Telegram’s initial operations through a $300 million VKontakte stake he sold in 2014. He later fled Russia after refusing to share VKontakte user data with the Russian government. Durov currently has an estimated net worth of $15.5 billion
