In his first interview since 2017, Telegram co-founder Pavel Durov discussed the messaging platform’s future, notably its financial prospects, revealing that an initial public offering (IPO) is being considered.
Established in 2013 by Pavel Durov and his brother Nikolai, Telegram is now solely owned by Pavel Durov, as per the Financial Times. Durov expressed optimism about achieving profitability, stating, “We are hoping to become profitable next year, if not this year.” He noted that the company has commenced monetization efforts and views an IPO as a means to democratise access to Telegram’s value, despite receiving offers from investors valuing the company at “over $30 billion.” Sources familiar with the matter indicated that Telegram is likely to pursue a listing in the United States once profitability is attained.
Having raised $2 billion through bond issues since 2021, Telegram is offering bondholders a 10-20% discount on the IPO if floated before March 2026. Durov also hinted at following Reddit’s approach by offering shares to “loyal” users during the IPO.
In a separate development, Reddit filed with the United States Securities and Exchange Commission (SEC) on March 11, aiming to raise $519 million in its IPO, with investors selling an additional 6.7 million shares for a total fundraising of $748 million.
As part of its fundraising endeavours, Telegram recently launched an advertising platform operating on the TON blockchain, offering channel owners 50% of total advertising revenue generated from displaying ads.
With 900 million users and approximately 50 employees, Telegram ranks as the fourth-largest messaging service globally, according to Financial Times statistics.
Durov, previously a co-founder of Vkontakte, Russia’s leading social media platform in 2007, faced legal challenges in 2019 when the SEC sued Telegram to halt a $1.7 billion initial coin offering for the GRAM launch. Telegram abandoned the endeavour and exited the TON Network in May 2020.