Telegram founder Pavel Durov’s arrest in France late last month put a crimp in his plans to stage an IPO for the messaging platform within the next two years. Durov had previously claimed that he had received offers for the company valuing it at $30 billion.
But a set of financial statements, filed in the British Virgin Islands, the site of Telegram’s legal HQ, show the company had revenue of only $342 million and saw a net loss of $259 million in 2023.
