Telegram "First-ever net profit this year...Annual Sales of Over $1 Billion"

Telegram, which introduced a monetization model three years ago, posted net profit for the first time, Telegram founder and CEO Pavel Durov said.

According to Bloomberg News and others, CEO Durov said in a post on his X (X, former Twitter) and Telegram channel that he recorded more than $1 billion (about 1.4 trillion won) in sales this year.

"As I expected, 2024 turned out to be a very good year for Telegram," Durov wrote. "For the first time in the three-year history of monetization, Telegram will be able to make a profit."

Telegram offered all services free of charge, but introduced paid subscription services and advertising starting in 2021.

CEO Durov said this has paid off a significant portion of Telegram's $2 billion (about 2.9 trillion won) debt, turning it into a surplus this year.

It also added that the number of users of Telegram's paid premium subscription service has tripled from last year to 12 million.

According to Telegram, the number of Telegram users worldwide is estimated to be over 950 million.

CEO Durov claimed that Telegram currently has more than $500 million (about 720 billion won) in cash, excluding cryptocurrency assets.

Founded in 2013 by CEO Durov with his brother Nikolai Durov, Telegram has rapidly grown into a global platform by ensuring user confidentiality through thorough encryption and anonymity.

However, as cases of Telegram being abused for sex crimes or spreading false and manipulated information continued, criticism grew.