Telegram hits 900m users as founder mulls IPO
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The news: Social messaging app Telegram has reached 900 million users and is nearing profitability, according to the Financial Times.
The numbers: Since it was founded in 2013, Telegram has raised around USD2 billion ($3.03 billion) in debt financing from a USD1 billion bond offering in 2021, in addition to issues of USD750 million and USD270 million in 2023.
The context: In his first public interview since 2017, CEO and founder of Telegram, Pavel Durov, told the Financial Times that the app is now making “hundreds of millions of dollars” in revenue after adding advertising and premium subscriptions. He said that he hopes the company will become profitable in 2025, if not sooner, and that the company has been offered “USD30 billion-plus valuations” from potential investors.
Despite the offers, Durov said that he sees value in an IPO as a means to democratise access to Telegram’s value, but did not provide a timeline or location for a listing.
The messaging app has become increasingly popular over the past few years, particularly for governments and officials, and citizens in conflict zones where other messaging services have been banned or are not available.
The source: Financial Times
