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Apr 02, 2024 617

WhatsApp's rival Telegram is planning an "IPO": 30B $

#global

"Informing about the value of Telegram, he noted that the shares will be opened for IPO. In addition, the head of the company said that Telegram's income will increase significantly in the near future."

Known as a messaging platform more focused on privacy, the founder of Telegram recently announced that the company is planning an IPO. Overall, Pavel Durov, the founder of Telegram, shared important economic details about the company the other day. Initially, he mentioned that the platform has surpassed 900 million users. Later on, he provided information about the company's value, noting that shares will be open for an IPO. Additionally, the company's leader mentioned that Telegram's revenues will increase significantly in the near future.

Telegram, which drew attention as an alternative messaging application with a focus on privacy until a few years ago, has managed to attract a significant number of users. Pavel Durov, the founder of Telegram, provided information about the current situation of the company in a statement to the Financial Times. He stated that Telegram has evolved into one of the world's most popular social media applications and that since launching advertising and premium subscription services two years ago, they have generated hundreds of millions of dollars in revenue each year. Durov stated, "We are planning to make a profit this year and the coming year."

Currently the sole owner of the company, Durov mentioned that potential investors value the social media platform at $30 billion and see the company's IPO as valuable for democratizing access to Telegram. While there have been allegations about Telegram being used for illegal activities and concerns about data potentially being accessed by Russia, Durov dismisses these claims as baseless. Durov had previously resisted demands from the Russian administration to access servers in Ukraine and later fled the country. Experts believe that when Telegram becomes profitable and market conditions are favorable, it will announce an IPO on U.S. exchanges.