Home Business Telegram Eyes Profitability and Public Offering After User Boom
BusinessFinanceTechnology

Telegram Eyes Profitability and Public Offering After User Boom

633

The popular messaging app Telegram is nearing financial independence and setting sights on a future initial public offering (IPO). In a recent Financial Times interview, founder Pavel Durov revealed that the company expects to profit next year and is open to going public.

With a user base exceeding 900 million, Telegram generates “hundreds of millions of dollars” through advertisements and subscriptions. Durov highlighted the company’s commitment to remaining independent as the driving force behind its monetisation strategy.

While Telegram has attracted significant investor interest, with valuations exceeding $30 billion, the company prioritises an IPO to make ownership more accessible. However, it remains open to smaller investments in exchange for a limited equity share.

Telegram’s two-year-old premium subscription service has already garnered over a million paid users. Additionally, the company offers ad solutions for large channels, with plans to launch revenue sharing with channel owners this month (March 2024). While current ad offerings are geographically restricted and require high minimum spends, Telegram intends to expand accessibility and cater to smaller advertisers globally this year.

Telegram is actively exploring blockchain technology through the TON Foundation. Initiatives include the December 2022 auction of premium usernames using TON Blockchain and the recent launch of a self-custodial crypto wallet (excluding the US).

Looking ahead, Telegram plans to introduce AI-powered chatbots to streamline business customer service. They also acknowledge the need for AI-powered solutions to address moderation challenges on the platform.

Telegram’s trajectory is clear: financial stability, potential public ownership, and continuous innovation to improve the user experience.

Read: Trump Would Halt Ukraine Aid if reelected – Hungarian Prime Minister

About The Author

Written by
Ikenna Churchill

Culture storyteller

Related Articles

FinanceNews

DR Congo, Rwanda to Sign US-Mediated Peace Deal  

The Democratic Republic of Congo (DRC) and Rwanda are set to sign...

FinanceNews

Missing ₦210tn: Nigerian Senate Rejects NNPCL’s Retreat Excuse, Gives 10-Day Ultimatum to Appear Before Probe Panel

The Nigerian National Petroleum Company Limited (NNPCL) on Thursday failed to appear...

Mali has signed agreements with Russia toward economic transformation following a high-level meeting
FinanceNews

Mali and Russia Sign Strategic Agreements in Gold, Energy, and Agriculture Sector

Mali has signed agreements with Russia toward economic transformation following a high-level...

FinanceNews

Burkina Faso to Recover $59 Million Lost to Public Sector Corruption

The government of Burkina Faso, led by Captain Ibrahim Traoré, has vowed...