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Telegram’s Financial Struggles: Impact of Cryptocurrency and Durov’s Arrest on Valuation
Cryptocurrency holds significant importance for Telegram alongside its core messaging function. In 2023, the company earned $342.5 million but incurred an operating loss of $108 million. Telegram's bonds fell in value after Durov's arrest, and after accounting for taxes, the total losses amounted to approximately $173 million.
The financial report reveals that cryptocurrency transactions and revenues from the "Integrated Wallet" and "Sales of Collectibles" account for over 40% of the company's revenue. Telegram's digital assets are valued at nearly $400 million, exceeding the company's cash reserves.
Telegram also reported expenses related to convertible bonds and Telegram Premium subscriptions. The Financial Times expresses doubts about the company's $30 billion valuation given its operating expenses and revenue, noting that Durov's arrest has impacted the business.
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1 сентября 2024