Telegram profits surpassed $1 billion in 2024, says Pavel Durov

Admin I Monday, December 23, 2024

LAGOS, Nigeria -Pavel Durov, the  founder and Chief Executive Officer of social media platform, Telegram, has announced that profits that accrued to the company in 2024 surpassed USD 1 billion.

He said the number of Premium subscribers also trippled, exceeding 12 million subscribers.

“This year, the number of Telegram Premium subscribers tripled, exceeding 12 million”, he said, adding ad revenue also increased a few times.

” 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”, he said.

According to him, over the past four years, Telegram has issued about $2 billion in debt.

“We repaid a meaningful share of it this Fall, taking advantage of favorable prices for the Telegram bonds.

” But there’s a lot of work ahead. Our innovations in monetization this year in gifts and Telegram Gateway) demonstrate that social media platforms can achieve financial sustainability while staying independent and respecting users’ rights