Telegram Raises $330 Million in New Capital & Considers IPO

Popular messaging app Telegram is close to becoming profitable, and its founder is considering an IPO after raising $330 million in new funding through bond sales.

Headquartered in Dubai, the app now has 900 million users and according to a Financial Times interview with its founder, its revenue is on the up thanks to advertising and premium subscription costs.

The company’s introduction of Telegram Premium, its paid subscription, has boosted its revenue stream, which has allegedly grown to “hundreds of millions of dollars”.

“We are hoping to become profitable next year, if not this year,” shared Telegram founder Pavel Durov with FT.

“The main reason why we started to monetise is because we wanted to remain independent. Generally speaking, we see value in [an IPO] as a means to democratize access to Telegram’s value”, Durov added.

While Telegram has reportedly received tempting offers valuing the company at over $30 billion from global late-stage tech funds, Durov remains steadfast in his vision and keeping an IPO on the table.

The company’s IPO plans come as Reddit also prepares for its initial public offering.

Despite Telegram’s success, concerns have been raised by researchers and critics regarding its alleged role in facilitating criminal activity and extremist content.

However, Durov vehemently denies the allegations, including that Telegram has any links to the Russian government.

With plans to use its recent financial injection to drive further growth and innovation while remaining independent, Telegram’s decision to explore an IPO reflects its ambition to cement a position as a leading messaging app worldwide.

You can learn more about Telegram by visiting its website here.