“Telegram announced an annual profit of $540 million after previous failures and amid legal problems – FTTelegram’s profit in 2024 reached $540 million, and revenues increased to $1.4 billion. This happened despite lawsuits against
Pavel Durov in France due to the position of the administrative team and content.”, — write: unn.ua
DetailsTelegram management, based in Dubai, told investors that revenue reached $1.4 billion in 2024, significantly more than the $343 million financial result in 2023. From a loss of $173 million in 2023, the company moved to its first annual profit.
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According to people familiar with the situation, the record revenues were shared with potential investors before Telegram launched a bond offering of approximately $1.5 billion to redeem existing debt. The debt sale, which began on Tuesday, could be completed as early as next week.
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The results show that Telegram’s financial performance has grown in part due to a surge in the growth of paid users, and also thanks to profits from cryptocurrency assets.
The growth is happening despite doubts about the company’s future after the detention of its founder by the French authorities in Paris in August last year.
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Durov, who was born in Russia but now has citizenship in France and the United Arab Emirates, is accused of the admin team’s unwillingness to fight crime, including child abuse, and terrorism, which widely use the platform to plan and commit crimes. The case could end in imprisonment.
Let us remind youThe founder of Telegram stated that the French intelligence services asked to block conservative voices in Romania on the eve of the elections. Durov refused, emphasizing the neutrality of the platform.