Telegram Hits 900 million Users As Founder Mulls IPO

Telegram, the secretive messaging app, is approaching profitability with a staggering 900 million users, as revealed by its owner Pavel Durov. In a recent interview with the Financial Times, Durov shared that the Dubai-based company has witnessed substantial growth, generating “hundreds of millions of dollars” in revenue since introducing advertising and premium subscription services two years ago.

Durov expressed optimism about Telegram’s financial future, stating, “We are hoping to become profitable next year, if not this year.” The platform’s monthly active users have surged from 500 million at the start of 2021 to 900 million currently, highlighting its immense global popularity.

Telegram Hits 900 Million Users As Founder Mulls IPO

Despite receiving tempting offers exceeding $30 billion from potential investors, Durov remains committed to retaining ownership of Telegram and is exploring the possibility of an initial public offering (IPO) to democratize access to the platform’s value. With just around 50 full-time employees, Telegram has become indispensable for governments, officials, and citizens in conflict zones worldwide.

However, the platform has faced criticism for being a breeding ground for criminal activity, extremism, and misinformation. Despite allegations of Kremlin influence, Durov has dismissed claims of ties to the Russian government as “inaccurate.”

Having co-founded Russia’s leading social media network VKontakte, Durov’s commitment to free speech led him to create Telegram in 2013. Following a dispute over user data with Russian security agencies, Durov left Russia and sold his VK shares under duress.

Telegram is considering a US listing once profitability is achieved and market conditions are favourable. The company has raised approximately $2 billion in debt financing through bond offerings, with incentives for bondholders to convert debt into equity at a discount upon IPO.

In an effort to diversify revenue streams, Telegram plans to introduce advertising globally and revenue sharing with channel creators. Additionally, new features such as business accounts and a “social discovery” feature aim to enhance user engagement and monetization opportunities.

Despite its renegade reputation, Telegram acknowledges the need for improved moderation processes, especially during global elections. However, Durov emphasizes the importance of preserving freedom of expression and fostering a marketplace of ideas.

With messaging rival WhatsApp boasting 1.8 billion monthly active users and encrypted app Signal reaching 30 million users, Telegram continues to carve its niche in the competitive messaging landscape. As it navigates towards profitability and explores an IPO, Telegram remains committed to its founding principles while adapting to evolving market dynamics.