Telegram, the global messaging app popular for its privacy and lack of moderation, is poised for its first profitable year with an estimated $1 billion in revenue, despite the arrest of founder Pavel Durov, the New York Times reported Monday.
Preferred in the Middle East, Asia and Eastern Europe for its strong encryption and virtually nonexistent censors, Telegram has told investors that it has begun policing content after Pavel Durov was arrested in France this summer. The founder and CEO was detained in an investigation into Telegram’s alleged facilitation of illegal activities due to insufficient moderation.
Citing a person with knowledge of the app’s finances, Telegram is set for a profitable 2024 with revenue on track to surpass $1 billion, up from nearly $350 million last year. The person also says Telegram has about $500 million in cash reserves, separate from its substantial footing in crypto assets.
The revelations come from discussions with investors who lent the company more than $2 billion, as Telegram seeks to reassure them is it seeks a public stock offering. The company also said it has paid down a significant amount of its debt.
World governments have increasingly scrutinized Telegram for hosting illicit content, including from drug trafficking and child predator enterprises. Telegram says it has hired more than 750 contractors to begin policing content.
Telegram boasts nearly 1 billion users worldwide. Advertising has expanded and now makes up about half of the company’s revenue, the person told the Times. It was valued at more than $30 billion in 2024.
