Pavel Durov, the founder of Telegram, shed light on the remarkable growth and financial success of the messaging platform. Durov proudly announced that Telegram, with 900 million monthly active users, has ascended to become one of the world’s most popular social networking applications. The platform’s user base has witnessed a significant surge from 500 million at the commencement of 2021.
Monetizing Success: Hundreds of Millions in Revenue
Durov highlighted the financial prowess of Telegram, revealing that the platform now rakes in “hundreds of millions of dollars” in revenue. This financial upswing is attributed to the introduction of advertising and premium subscription services. Furthermore, Durov optimistically stated that Telegram is on track to enter profitable operations, potentially as early as this year, if favorable conditions persist.
Strategic Independence and Valuation Surpassing $30 Billion
Pavel Durov expressed the platform’s commitment to independence, citing the main impetus behind monetization. He disclosed that potential investors, including “global last-stage technology funds,” have placed a valuation on Telegram that exceeds a staggering $30 billion. Despite the tempting offers, Durov firmly asserted that selling the platform is not on the agenda, hinting at a future initial public offering (IPO) to maintain autonomy.
“The main reason we started monetizing is that we wanted to remain independent,” he stated. “Overall, we see the value [of an IPO] as a means of democratizing access to Telegram’s value.”
U.S. Listing and Potential IPO Plans
Insider sources suggest that Telegram is likely eyeing a U.S. listing once the company achieves profitability and market conditions prove favorable. Although Durov refrained from commenting on the timing or location of the IPO, he confirmed that Telegram is actively exploring various options. Interestingly, he hinted at a unique approach during the IPO, considering the sale of shares to loyal users, a move reminiscent of Reddit’s strategy.
Enhancing Moderation Processes and AI Integration
In response to the unfolding global elections, Durov disclosed Telegram’s plans to bolster its moderation processes. The platform aims to “deploy mechanisms related to artificial intelligence to address potential problems” this year. However, Durov emphasized the importance of not crossing red lines, asserting that user postings should be monitored only if they breach established boundaries.
As Telegram continues its meteoric rise, the prospect of an IPO and innovative strategies for user involvement mark the next chapter in the platform’s evolution, solidifying its position as a major player in the social networking landscape.
Source: Financial Times