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News

Telegram Revenue 2024 Hits Profitability for The First Time

December 24, 2024 - Around 2 mins mins to read

Key Points:

  • Telegram revenue 2024 surpasses $1 billion, marking the first profitable year for the messaging app.
  • Strong growth in Telegram Premium subscriptions and strategic crypto asset sales contributed to the impressive Telegram revenue 2024.
Telegram Revenue 2024 hits $1 billion as the messaging giant achieves profitability, backed by strong Premium user growth and significant crypto contributions.
Telegram Revenue 2024 Hits Profitability for The First Time

Telegram Revenue 2024: A Year of Profitability and Growth

According to its founder and CEO, Pavel Durov, Telegram has achieved profitability for the first time since its launch over a decade ago.

In a recent announcement, Durov highlighted that Telegram Revenue 2024 exceeded $1 billion, fueled by a massive increase in Premium subscriptions, which tripled to 12 million users this year.

Additionally, Telegram closed the year with an impressive $500 million in cash reserves, excluding its extensive crypto holdings. Sources from The New York Times revealed that crypto assets, including sales of Toncoin (TON), played a crucial role in this financial success.

Telegram’s financial statements from 2023, as reported by the Financial Times, showed nearly $400 million in crypto holdings. In 2024, the value of these digital assets surged to $1.3 billion, significantly bolstering the company’s financial standing.

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Telegram’s 2023 financial report revealed by Financial Times

Read more: Telegram Founder Pavel Durov Speaks Out First Time After Arrest

A Tumultuous Year for Telegram and Pavel Durov

Despite reaching a financial milestone, 2024 has been a turbulent year for Telegram and its founder, Pavel Durov. The Russia-born billionaire, whose net worth exceeds $15 billion, became embroiled in a high-profile criminal investigation in France.

In August, French authorities detained Durov under allegations that Telegram facilitated illegal activities, including the distribution of illicit content and narcotics. Although released on a €5 million bail, Durov remains under strict legal supervision and publicly criticized an “outdated legal approach” to regulating digital platforms.

In response, Telegram has ramped up its content moderation efforts, amending its terms of service and hiring over 750 moderators to address criminal activities on the platform. Meanwhile, Toncoin (TON), a cryptocurrency linked to Telegram, has rebounded 22% since September, reflecting investor confidence in both the project and the platform’s resilience.

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TON token price fluctuations from the end of August 2024 to present, taken at 09:30 PM on December 24, 2024 on CoinGecko
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