Telegram Achieves First Profit in 2024, Considers U.S. IPO Amid Blockchain Expansion
In 2024, Telegram reached a significant milestone by becoming profitable for the first time since it started monetizing its platform three years ago. The company’s revenue exceeded $1 billion, supported by a tripling of its subscriber base to over 12 million and initiatives like Stars and Mini Apps. The year ended with Telegram holding more than $500 million in cash reserves. Despite facing legal challenges in France earlier in the year, including the arrest of its founder Pavel Durov due to money laundering allegations, Telegram’s enhanced compliance measures have improved its situation. Telegram has integrated with the TON blockchain, facilitating successful Web3 projects, and is now contemplating a potential IPO in the U.S. within the next two years. This reflects its growing influence in both communication and blockchain ecosystems.
Bullish
Telegram’s first-time profit signals strong financial health, making it an attractive prospect for future investments, especially with its potential U.S. IPO on the horizon. The integration with the TON blockchain amplifies its role in the evolving Web3 space, likely boosting market confidence. These factors suggest a positive outlook for both Telegram and the TON-related projects in the crypto market short-term and could have lasting long-term impacts as it establishes itself as a key player in blockchain ecosystems.