News Summary

Telegram, the popular messaging platform founded by Pavel Durov, has reached a significant milestone by achieving profitability in 2024. The company’s total revenue surpassed $1 billion this year, marking a major achievement for the app, which has long been committed to providing free and secure communication to its users. Telegram now boasts 12 million paid users following the launch of its premium subscription service in 2022. The company is ending the year with more than $500 million in cash reserves, excluding its crypto assets. Durov also noted that Telegram has successfully repaid a significant portion of its $2 billion debt issued over the past four years by taking advantage of favorable bond prices. This progress sets the stage for future growth, as the company aims for a public offering in the coming years. With over 950 million monthly active users, Telegram continues to expand its business offerings, including an ad revenue-sharing service and a mini app store.