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The founder and chief executive of the Telegram encrypted messaging app Pavel Durov said on Monday that the platform had recorded a net profit for the first time in 2024, with annual revenue exceeding $1 billion. ET Year-end Special Reads Gold outshines D-St with 20% returns, but 2025 may be different The year of the pause: How RBI maneuvered its policy in 2024 2024, the year India defeated China's salami-slicing strategy "As I predicted, 2024 turned out to be a very good year for Telegram. For the first time in its 3-year history of monetisation, Telegram became profitable," Durov announced on his Telegram channel.
The messaging app, which says it has over 950 million users worldwide, had previously operated without fees but began offering paid subscriptions and showing adverts in 2021. Durov said the move had helped reach revenues exceeding $1 billion, with subscribers to the app's premium service tripling to 12 million. Dubai-headquartered Telegram had more than $500 million in cash reserves, excluding cryptocurrency assets, Durov said.
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Durov, who has French citizenship, was released under strict bail conditions, including reporting to a police station twice a week and not leaving French territory. In September, the 40-year-old billionaire criticised the French authorities and called their approach misguided. He nevertheless admitted that the platform's rapid growth had allowed criminals to "misuse" the app more easily.
Durov also said the company's staff had begun using artificial intelligence to ensure "problematic content" in the app's search feature "is no longer accessible". However, he insisted that "99.999%" of users were not involved in criminal activity.
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