Telegram CEO, "Reached 900 Million Users... Considering IPO"

"Profitable Turnaround Expected Within Next Year"
IPO Possibility↑, Sale Option Excluded

Pavel Durov, the developer and CEO of the messenger app Telegram, announced that Telegram's turnaround to profitability is imminent and that an initial public offering (IPO) is also under consideration.

In an interview with major foreign media on the 11th (local time), Durov said, "The monthly active users (MAU) increased from 500 million in 2021 to 900 million," adding, "We expect to achieve profitability either this year or next year." He also stated, "We have generated hundreds of millions of dollars in revenue through advertising and paid premium subscription services introduced two years ago," and "The company valuation assessed by potential investors such as global funds exceeds $30 billion (approximately 40 trillion KRW)."

Previously, multiple sources familiar with the matter reported that Telegram plans to pursue a U.S. listing once it starts making profits and market conditions are favorable. Durov avoided specifying the timing and location of the listing, saying only, "We are reviewing several options." He added, "The main reason we started monetization was to maintain independence," and explained, "I believe an IPO is a democratic way to approach the values Telegram aims for." Foreign media also reported that he dismissed the possibility of a sale.

Born in Russia, Durov developed Telegram in 2013 together with his brother Nikolai. It is known that he refused the Russian intelligence agency's demand to hand over Ukrainian user data from VK, a social networking service (SNS) he developed before Telegram, and under pressure, sold his VK shares to a Kremlin-aligned Russian oligarch and left Russia.

After leaving Russia and settling in Dubai, Telegram attracted market attention with its secret chat feature. Some critics argued that Telegram's secret chat feature could become a breeding ground for crimes such as the spread of extremist content and fake news. In response, Durov stated, "Since this year is an election year worldwide, we will pay attention to content management within SNS," but also expressed his belief that "as long as the line is not crossed, it is not right to regulate people's ways of expression."