Telegram's losses by end of 2023 amounted to $173 million

By Alimat Aliyeva

Telegram's revenues in 2023 reached 342 million US dollars with an operating loss of 108 million, Azernews reports.

According to the publication, Telegram's total losses after taxes in 2023 amounted to about 173 million US dollars.

The financial losses were partially offset by the growth of digital assets on its balance sheet, the total value of which reached almost 400 million US dollars in 2023.

In 2024, the company also sold native Toncoin coins worth about $244 million in cash.

Telegram, as the publication notes, is fully owned by Durov, who owns a multibillion-dollar cryptocurrency fortune, the company has also raised about $2.4 billion in debt financing with a maturity in 2026. This amount includes the placement of bonds for 1 billion US dollars in 2021. Among the investors are Abu Dhabi sovereign wealth funds.

The publication notes that the detention in France and the indictment of the co-founder of the Telegram messenger Pavel Durov deal a blow to the company's plans for a successful IPO, resulting in large losses for securities holders.

Earlier, the newspaper reported on Telegram's intention to launch an IPO in the next two years, possibly in the United States.