Dubai-based Telegram is considering a stock market listing as it moves towards profitability and user numbers rise to 900 million, founder Pavel Durov told the Financial Times.

The messaging app is making “hundreds of millions of dollars” in revenues after introducing advertising and premium subscription services two years ago, he added.

“We are hoping to become profitable next year, if not this year,” Durov told the newspaper.

He said that potential investors, including global late-stage tech funds, have valued Telegram at over $30 billion, ruling out selling the platform.

The platform has 900 million monthly active users, up from 500 million at the start of 2021.
 
Telegram may aim for a listing in the US once the company is profitable and market conditions are favourable, the newspaper reported, citing two informed sources.

While a timeline and specific venue remain undisclosed, Telegram has explored various options for its potential listing.

The company is planning to sell a part of its stock to loyal users, a strategy similar to Reddit’s move ahead of its New York listing by March, the newspaper said.

(Writing by Seban Scaria seban.scaria@lseg.com)