Pavel Durov, the founder of Telegram has revealed that the popular messaging platform has soared to new heights, boasting a staggering 900 million monthly active users.
With this significant milestone, Durov shared insights into Telegram’s remarkable journey, shedding light on its path to profitability and potential stock market listing.
Acknowledging Telegram’s exponential growth, Durov emphasized the platform’s emergence as one of the foremost players in the global social media landscape. In his first public interview since 2017, Durov disclosed the company’s ambitious revenue targets, attributing its success to strategic monetization efforts introduced two years ago.
“We are hoping to become profitable next year if not this year,” remarked Durov, underscoring Telegram’s evolution from a niche messaging platform to a formidable contender in the tech industry. He highlighted the introduction of advertising and premium subscription services as pivotal factors driving revenue growth, with the company reportedly generating “hundreds of millions of dollars” since implementing these monetization strategies.
Despite lucrative offers from potential investors valuing Telegram at over $30 billion, Durov reiterated his commitment to maintaining the platform’s independence, dismissing speculation of a sale. Instead, he hinted at a potential initial public offering (IPO), citing it as a means to democratize access to Telegram’s value.
Originating as a haven for the cryptocurrency community, Telegram has transcended its niche roots to become a vital communication tool for governments, officials, and citizens worldwide, particularly in conflict zones. However, concerns linger regarding the platform’s moderation practices, with researchers cautioning against its use as a conduit for criminal activity, extremism, and misinformation.
Addressing criticism of Kremlin ties, Durov vehemently refuted allegations, reaffirming Telegram’s commitment to neutrality and free expression. His principled stance reflects a broader ethos shaped by his past experiences, including his departure from VKontakte, Russia’s leading social media network, amidst government pressure to compromise user data.
In anticipation of profitability, Telegram is eyeing a potential US listing, leveraging its expansive user base and robust financial performance to attract investors. Durov declined to disclose a specific timeline but hinted at ongoing discussions and evaluations of various listing venues.
With substantial debt financing secured through bond offerings totaling $2 billion, Telegram aims to fortify its financial position ahead of a potential IPO. Bondholders stand to benefit from preferential conversion terms, incentivizing the company to expedite its listing process.
In a nod to community engagement, Durov expressed openness to allocating stock to loyal users, emulating Reddit’s recent move to involve retail investors in its IPO. Additionally, Telegram plans to introduce innovative features, including AI-powered chatbots and revenue-sharing mechanisms for content creators, further enriching its user experience.
Despite its rapid ascent, Telegram faces challenges in balancing revenue generation with maintaining its renegade image. The platform’s foray into advertising and moderation improvements underscores its commitment to evolving responsibly while preserving its core principles of free expression.
As Telegram navigates its path to profitability and potential IPO, the tech world watches with anticipation, eager to witness the next chapter in the platform’s remarkable journey. With a steadfast commitment to innovation and user empowerment, Telegram continues to redefine the boundaries of digital communication, setting the stage for a transformative future in the tech landscape.
