Telegram has 900 million users and is nearing profitability, according to the owner of the secretive messaging app, as the company moves closer to a potential blockbuster stock market listing.
“The main reason why we started to monetise is because we wanted to remain independent,” he said. “Generally speaking, we see value in as a means to democratise access to Telegram’s value.” A free speech advocate, he founded Telegram in 2013 with his brother. According to Durov, he fled Russia a year later after refusing to share the data of certain Ukrainian users of VK with Russia’s security agency. Durov has said he sold his shares in VK to Kremlin-friendly oligarchs for $300 million under duress.
In an IPO, Durov said Telegram would consider selling an allocation of stock to loyal users, following Reddit which recently announced that it would allocate a portion of its shares to retail investors ahead of a New York listing as early as March.