Tashkent, Uzbekistan (UzDaily.com) — In 2024, the messaging app Telegram achieved significant financial success, becoming profitable for the first time. Founder and CEO Pavel Durov announced that Telegram’s revenue exceeded US$1 billion, and its cash reserves at the end of the year amounted to over US$500 million, excluding crypto assets.

Key factors behind this achievement included the growth of Telegram Premium subscribers and an increase in advertising revenue. The number of premium subscribers tripled in 2024, surpassing 12 million, which significantly impacted the company’s financial results.

Additionally, Telegram continues to actively develop its cryptocurrency initiatives. In the first half of 2024, the company reported a growth in the value of its digital assets to US$1.3 billion, further strengthening its financial stability.

Despite its financial success, Telegram faces legal challenges. In August 2024, Pavel Durov was detained in France on charges of facilitating illegal activities through the platform. However, despite these challenges, the company continues to demonstrate sustained growth and profitability.

In light of these results, Telegram is considering the possibility of an IPO. In March 2024, Durov revealed that the company had received a preliminary valuation of over US$30 billion ahead of a potential stock market debut.

Thus, 2024 marked a turning point for Telegram, signifying its transition from debt obligations to profitability and the strengthening of its financial position.