Pavel Durov, the founder of Telegram, recently gave an interview to the Financial Times (FT) and revealed that the platform has surpassed 900 million users. He expressed his hopes for Telegram to become profitable next year and mentioned considering an initial public offering (IPO).
Durov, originally from Russia, founded the social networking site VKontakte (VK) in 2006 and was once hailed as the “Mark Zuckerberg of Russia.” He refused to hand over Ukrainian user data to the Russian government and lost control of VK after selling his shares. In 2013, he created Telegram, which champions freedom of speech, and subsequently left Russia.
Telegram, known for its commitment to freedom of speech, provides cross-platform encrypted messaging services. It supports various desktop and mobile platforms as well as web browsers, enabling users to communicate through text, voice, and images. Telegram serves as a crucial communication platform for democratic movements but has also been used by terrorist groups or criminal organizations.
During the interview with the Financial Times, Durov revealed that since introducing advertising and subscription services two years ago, Telegram’s membership has grown from 700 million to over 900 million, generating hundreds of millions of dollars in revenue. He expressed his desire to achieve profitability, ideally by next year.
Furthermore, Durov acknowledged his intention to monetize Telegram, emphasizing the importance of maintaining the platform’s independence. The IPO is seen as a means to democratize Telegram.
According to sources cited by the Financial Times, Telegram may consider listing in the United States. However, Durov declined to comment on potential timing or location for the IPO, stating that they have explored various options.