Pavel Durov, co-founder of Telegram, recently broke his silence in his first interview since 2017, discussing the messaging service's future, particularly its financial prospects. In consideration is the possibility of an initial public offering (IPO).
Founded in 2013 by Pavel Durov and his brother Nikolai, Telegram has seen significant growth, with Pavel Durov now holding sole ownership of the company. Durov expressed optimism regarding Telegram's financial performance, stating, "We hope to be profitable next year, if not this year."
Highlighting the company's shift towards monetization, Durov views the IPO as a means to democratize the value of Telegram. Despite being valued at over $30 billion by investors, Telegram is yet to realize this valuation fully. Sources suggest that Telegram may pursue a listing in the United States once it achieves profitability, with the company having raised $2 billion through bond issues since 2021.
As part of its IPO plans, Telegram aims to emulate Reddit's strategy of involving loyal users in the offering. Reddit recently announced plans to raise $519 million through its IPO, with existing investors selling an additional $748 million worth of shares. Additionally, Telegram has introduced an advertising platform on the TON blockchain to further boost revenue. Channel owners on Telegram stand to receive 50% of the ad revenue generated from their channels.
Despite its financial ambitions, Telegram remains committed to its user base, which currently stands at 900 million users. With approximately 50 employees, Telegram ranks as the fourth most used messaging service globally. Notably, Durov's entrepreneurial journey also includes co-founding Vkontakte, Russia's leading social media platform. However, Telegram faced legal challenges in 2019 when the SEC sued the company to halt its $1.7 billion initial coin offering for GRAM. Telegram ultimately abandoned its plans to launch the currency and exited the TON network in May 2020.
