Telegramfounder and CEO Pavel DurovIt attracted attention with the increase in its financial performance even after he was detained in France. The company in the first half of 2024 $525 million revenue achieved, compared to the previous year a 190 percent increase noted. This increase in income is especially Toncoin (TON) cryptocurrencyIt was made possible thanks to the sales revenues obtained from .
The value of digital assets reached $1.3 billion Telegramannounced a net profit of 335 million dollars in the first half of the year. This figure is the company’s is close to making a profit on an annual basis for the first time in its history. It shows. In the same period last year, the company reported a loss of $173 million while earning $342 million in revenue.
Toncoin sales skyrocketed revenues
TelegramA significant portion of the growth in revenues of Toncoin from sales and this crypto paraIt was caused by the increase in the value of . Toncoinhas gained more than 171 percent since the beginning of the year. The company spends a large portion of its digital assets Toncoin and acknowledges that these assets are affected by market fluctuations.
After Durov’s detention ToncoinAlthough the value of ‘s fell by 10 percent for a short time, the rise that continued throughout the year did not change the general picture. Telegram Additionally, small businesses only pay for advertising Toncoin It generated $225 million in revenue from a deal that allowed it to do so with.
Legal problems did not affect operation
Pavel DurovThe detention of French police in Paris in August raised some concerns about the company’s operations. However TelegramIn its statement to investors, stated that this situation did not have a significant impact on operational activities and financial performance.
French officials, TelegramIt alleges that ‘s inability to block illegal content, and these allegations include charges that carry a prison sentence of up to 10 years for Durov. The company stated that these allegations were directed against Durov and TelegramHe stated that it did not affect the corporate structure of .
Increase in advertising and subscription revenues
TelegramThere was also a significant increase in ‘s advertising and premium subscription revenues. The company’s premium subscription revenues reached $119 million, up 270 percent from a year ago. Advertising revenues doubled to $120 million.
The company’s growing revenue model allows its IPO plans to remain on the agenda until 2026. However, experts Telegram It warns that allegations of illegal content on it may complicate this process.
Financial restructuring and future plans
Telegramrepurchased its $124.5 million bond in September 2024 within the framework of restructuring its debt financing. Pavel DurovBonds, which experienced a short-term loss of value after his detention, recovered and rose to 95 cents per dollar.
Despite Durov’s legal troubles Telegramshows that it maintains its growth potential with its performance in the first half of 2024. However, both legal challenges and criticism of content management on the platform will be an important test for the future of the company.
Source: www.dunya.com
