Telegram Founder Pavel Durov Eyes IPO as User Base Reaches 900 Million Mark
In Brief
Telegram reached 900 million users and is considering an initial public offering (IPO) amidst investor interest, says founder Pavel Durov.
Popular messaging app Telegram has reached a milestone of 900 million users and is on the verge of profitability, according to founder Pavel Durov. In an interview with the Financial Times (FT), Durov revealed that the company has been generating significant revenue in recent years through advertising and premium subscription services.
With only about 50 full-time employees, Telegram has become a crucial communication tool for governments, officials and citizens worldwide. The company has already raised $2 billion in debt financing, from a $1 billion bond offering in 2021, as well as further issues of $75 million and $270 million conducted last year.
Telegram is considering an initial public offering (IPO) and has attracted interest from potential investors, valuing the company at over $30 billion. Bondholders have the option to convert debt into equity at a discount if an IPO occurs before March 2026.
“We are hoping to become profitable next year, if not this year. The main reason why we started to monetise is because we wanted to remain independent. Generally speaking, we see value in [an IPO] as a means to democratise access to Telegram’s value,” Pavel Durov told FT.
In anticipation of a potential IPO, Telegram is exploring revenue generation avenues, such as advertising and revenue-sharing agreements with creators. Durov stated that Telegram would contemplate selling stock allocations to loyal users, taking a cue from Reddit, which recently disclosed plans to allocate a portion of its shares to retail investors ahead of a New York listing slated for March. He mentioned that the company has garnered interest in conducting a smaller equity raise.
“That remains a possibility if we wanted to raise funds, for example, to fuel our [artificial intelligence] related ambitions,” he said, adding that the company was exploring introducing an AI-powered chatbot.
Durov recently announced the launch of the first set of Telegram business features, where users now can transform their personal Telegram accounts into business accounts. Additionally, Telegram business accounts will be able to integrate an AI chatbot, serving as an invisible secretary to respond to specific or all chats. A new bot application programming interface (API) will also be released for developers later this month, with all features accessible without any charges.
Often referred to as the “Mark Zuckerberg of Russia,” Durov co-founded VKontakte, Russia’s leading social media network, before founding Telegram in 2013. He left Russia in 2014 after resisting pressure to share user data with authorities.
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Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.
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Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.
