DUBAI (AFP) – The founder and chief executive of the Telegram encrypted messaging app Pavel Durov said on Monday that the platform had recorded a net profit for the first time in 2024, with annual revenue exceeding USD1 billion.
“As I predicted, 2024 turned out to be a very good year for Telegram. For the first time in its three-year history of monetisation, Telegram became profitable,” Durov announced on his Telegram channel.
The messaging app, which says it has over 950 million users worldwide, had previously operated without fees but began offering paid subscriptions and showing adverts in 2021.
Durov said the move had helped reach revenues exceeding USD1 billion, with subscribers to the app’s premium service tripling to 12 million.
Dubai-headquartered Telegram had more than USD500 million in cash reserves, excluding cryptocurrency assets, Durov said.
The company did not appear to have published any annual accounts to accompany Durov’s statement.
In August, Durov was arrested in France and charged with failing to curb extremist and illegal content on Telegram.
Durov, who has French citizenship, was released under strict bail conditions, including reporting to a police station twice a week and not leaving French territory.
