The founding father of the moment messaging platform, Pavel Durov, on Monday declared that the corporate is now worthwhile with income crossing $1 billion in 2024.
The corporate, which launched its premium subscription service in 2022, now has 12 million paid customers.
Durov additionally stated that the app is ending the 12 months with greater than $500 million in money reserves, with out counting its crypto property.
What Durov is saying
The Telegram founder to his X deal with to announce this feat, which additionally attracted the commendation of X proprietor, Elon Musk. Sharing the information, he stated:
“This 12 months, the variety of Telegram Premium subscribers tripled, exceeding 12 million. Our advert income additionally elevated just a few instances. Telegram’s whole income in 2024 surpassed $1 billion, and we’re closing the 12 months with greater than $500 million in money reserves, not together with crypto property.
“Over the previous 4 years, Telegram has issued about $2 billion in debt. We repaid a significant share of it this Fall, making the most of favorable costs for the Telegram bonds. However there’s loads of work forward.
“Our improvements in monetization this 12 months (Stars, Items, Giveaways, Mini Apps, the Affiliate Platform, Telegram Enterprise, and Telegram Gateway) show that social media platforms can obtain monetary sustainability whereas staying unbiased and respecting customers’ rights.”
Elon Musk was one of many first individuals to reply to Durov’s publish, saying “Nicely accomplished.”
What it’s best to know
Telegram’s success in 2024 comes amid weighty accusations of poor content material moderation on Telegram, which allegedly made the platform a haven for terrorists and drug traffickers.
These allegations led to the arrest of Durov in France on August 24, 2024, upon touching down on the airport to honour French President Emmanuel Macron’s invitation to dinner.
- He was charged on a number of counts of failing to curb extremist and unlawful content material on the favored messaging app which now has over 900 million followers however has turn out to be more and more controversial.
- He was later granted conditional launch on a bail of 5 million euros and on the situation he should report back to a police station twice every week in addition to remaining in France.
- In response to a few of the allegations, Telegram final week introduced that it has blocked 15.4 million teams and channels this 12 months as a part of an intensified crackdown on dangerous content material, together with fraud, terrorism, and youngster sexual abuse materials (CSAM).
- Based on its newest moderation report, Telegram now blocks tens of 1000’s of teams and channels day by day, eradicating tens of millions of items of content material that violate its Phrases of Service.
- These embody supplies that incite violence, promote terrorism, or facilitate unlawful commerce.
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