900 million users
In an interview with the Financial Times, Pavel Durov stated that Telegram reached 900 million users. He described the messaging app as one of the world’s most popular social networks and noted that it generates substantial revenue from ad exchanges and premium subscriptions. Durov also indicated that Telegram is nearing profitability.
He added that profitability could arrive next year, or perhaps this year, depending on market dynamics. Sources familiar with the situation believe that once profitable, the company behind Telegram might pursue a listing in the United States. Durov did not commit to a timeline or location for an IPO, but he did acknowledge the possibility of a public announcement. At the same time, he mentioned that global technology funds value the company at more than 30 billion dollars, while stressing that he has no plans to sell Telegram.
“Overall, we see the IPO as a way to democratize access to Telegram’s value”, he explained. He also suggested that during a potential IPO, Telegram could offer a portion of shares to regular users. The Financial Times compared this plan to Reddit, which announced plans to allocate some shares to retail investors ahead of its New York listing.
Durov noted that the increased capital from a potential share sale could be used to advance an artificial intelligence AI chatbot project. He did not provide specifics about this venture.
Moderation and censorship
Durov said that Telegram would strengthen its moderation system in 2024 to address the challenges associated with presidential elections around the world. The platform plans to deploy AI-based moderation mechanisms among other tools to improve governance and safety.
He stressed that he believes in the free exchange of ideas and argued that controlling how people express themselves is misguided unless lines are crossed. He emphasized the importance of a robust marketplace of ideas and warned against drifting toward authoritarian approaches.
Not affiliated with the Kremlin
During discussions, Telegram was asked about possible connections or pressure from Russian authorities. Durov rejected these claims as inaccurate, noting that he left Russia after declining to grant the security services access to encrypted communications related to a prior terrorist case. He pointed out that Telegram cannot assist security services because such access is technically impossible in the platform’s design.
He explained that several mobile numbers of interest to the security services never had Telegram accounts, while others were deregistered due to inactivity. In April 2018, Roskomnadzor blocked Telegram in Russia after Durov refused to enable access. The restriction persisted for over two years before it was lifted in June 2020. Throughout this period, many users continued to access Telegram via bypass tools while others remained blocked.
Russian authorities have fined Telegram multiple times for publishing information deemed illegal under Russian law and for refusals to remove it. The most recent ruling, in December 2023, imposed a 4 million ruble administrative fine in a Moscow court.