French authorities charged Telegram CEO Pavel Durov with multiple crimes this week.
Telegram's finances reveal a $108 million loss on $342 million of revenue last year, the FT reports.
Telegram's apparent reliance on crypto services raises questions about its $30 billion valuation.
This week French authorities charged Telegram CEO Pavel Durov with multiple crimes. But in the months before that, he was telling people he might take his company public, and floated a $30 billion valuation for his messaging/social media company, which boasts more than 900 million users.
Now the Financial Times says it has gotten a look at Telegram's 2023 finances, and those numbers make it very hard to imagine the company could convince people it's worth anything like $30 billion — even if its founder and CEO wasn't looking at jail time.
It's not uncommon for fast-growing consumer tech companies to be money losers when they go public. Twitter did that in 2012, and Reddit did it this year.
Telegram's finances reveal a $108 million loss on $342 million of revenue last year, the FT reports.
Telegram's apparent reliance on crypto services raises questions about its $30 billion valuation.
This week French authorities charged Telegram CEO Pavel Durov with multiple crimes. But in the months before that, he was telling people he might take his company public, and floated a $30 billion valuation for his messaging/social media company, which boasts more than 900 million users.
Now the Financial Times says it has gotten a look at Telegram's 2023 finances, and those numbers make it very hard to imagine the company could convince people it's worth anything like $30 billion — even if its founder and CEO wasn't looking at jail time.
It's not uncommon for fast-growing consumer tech companies to be money losers when they go public. Twitter did that in 2012, and Reddit did it this year.
1 yr. ago
