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American Focus > Blog > Economy > Telegram jumps to $540mn profit despite founder facing legal peril
Economy

Telegram jumps to $540mn profit despite founder facing legal peril

Last updated: May 21, 2025 11:51 pm
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Telegram soared to a $540 million profit last year, defying the ongoing challenges to its leadership posed by French legal proceedings against its founder Pavel Durov. The Dubai-based company reported revenues of $1.4 billion in 2024, a significant increase from $343 million the previous year. This marked a turnaround from a $173 million loss in 2023 to its first annual profit.

Investors were informed of the impressive earnings ahead of Telegram’s bond offering of approximately $1.5 billion to repurchase existing debt. The debt sale, which commenced on Tuesday, is projected to conclude as early as next week.

The company’s success can be attributed to a surge in paying users and collaborations related to its cryptocurrency ventures. Despite uncertainties surrounding Durov’s detainment by French authorities in August last year, Telegram has continued to thrive.

Durov has vehemently criticized the French authorities over the case, emphasizing that the primary motive behind his detainment was geopolitics rather than fighting child sexual abuse. Telegram boasts over 1 billion monthly active users globally and operates with a small team of around 60 employees, outsourcing most of its moderation tasks to contractors.

During discussions with potential investors, Telegram’s chief investment officer John Hyman expressed confidence in the company’s financial performance and hinted at a possible initial public offering if market conditions improve. The French investigation remains a potential obstacle to an IPO, but there is optimism that it could be resolved this year.

The new bond offering, with a 9% yield, offers investors the opportunity to purchase shares in any future IPO at a 20% discount. Telegram’s revenue sources in 2024 included partnerships and ecosystem initiatives, advertising, and premium subscriptions.

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The company’s ecosystem business involves developers integrating “mini apps” into Telegram, facilitated by the Ton blockchain. Telegram has also benefitted from deals with third-parties related to its Toncoin cryptocurrency.

Looking ahead, Telegram aims to achieve revenues of $2 billion in 2025, representing a 46% year-on-year increase, with a profit target of $720 million. The company holds approximately $530 million in cash as of February 2025, excluding cryptocurrency assets.

Telegram, solely owned by Durov, has issued $2.4 billion in bonds over the past four years and repurchased $375 million of outstanding bonds between September and December 2024. The company sees potential in artificial intelligence, positioning itself as a leading open platform for conversational AI.

A notable partnership with Elon Musk’s AI group, xAI, has seen the integration of Grok chatbot into Telegram, with plans for further promotion within the platform. This collaboration marks Grok’s expansion beyond Musk’s X platform into a new social media service.

Durov and Musk share a commitment to free speech, evident in Musk’s endorsement of Durov’s stance on the French intelligence request. Telegram declined to comment on these developments, underscoring the company’s focus on innovation and growth in the digital landscape.

TAGGED:540mnFacingfounderJumpslegalPerilprofitTelegram
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