Musk praised Durov for turning Telegram into profits

“Good job,” Musk wrote in response to Durov’s publication with the results of Telegram’s work for 2024.

Previously Durov said that the messenger became profitable for the first time in three years since the start of monetization. In his words, the number of paid Telegram Premium subscribers has tripled to 12 million people, and advertising revenue “has also multiplied several times.”

“As a result, Telegram’s total revenue in 2024 exceeded $1 billion and we ended the year with more than $500 million in cash reserves, not counting cryptocurrency assets,” said the Telegram director, emphasizing that the The company’s experience shows that social networks “can achieve financial sustainability while remaining independent and respecting the rights of users.”

In late November, the Financial Times, citing Telegram’s unaudited financial report, reported that the company’s revenue for the first half of 2024 amounted to $525 million, a 190% year-on-year increase. Nearly half of the revenue ($225 million) came from a one-time deal with an anonymous party in which Telegram “was rewarded” by making Toncoin the only payment method for small businesses to pay for ads on the application.

This is not the first time Musk has supported Durov. In August, when the head of Telegram was detained in France, the billionaire published a post with the hashtag #FreePavel and also responded to French President Emmanuel Macron’s post, demanding to provide “more details about the reasons for the arrest” of Durov. .