Telegram seeks business model for messaging app after cryptocurrency failed

In pursuit of profitability, encrypted messaging app Telegram wants to launch paid services and its own advertising platform from 2021, its co-founder and CEO Pavel Durov said in a blog post.

To finance its growth, the company needs “at least a few hundred million dollars a year to continue“, he continues recalling that he has personally financed the activities of the company until then.

New paid features
But it is out of the question to completely change the business model, promises the leader. “Most users will hardly notice any changes“, he affirms. Because the monetization will pass by the introduction of paid features for the” premium “members, targeting in priority to the companies which use Telegram as professional messaging.

At the same time, Telegram wants to launch its own advertising platform. Private conversations will not be covered, whether they are discussions between two interlocutors or a group. Ads will only appear on “major public channels“who are already showing ads through third-party platforms. These ads are showing”ordinary messages and are often intrusive. We will remedy this by introducing our own user-friendly advertising platform (…)“and respectful of privacy, promises the CEO.

In addition, Pavel Durov wants Telegram to remain “independent“and does not intend to sell his company as”the founders of WhatsApp“did it in 2014 for $ 22 billion with Facebook.

Telegram can no longer rely on its cryptocurrency
The messaging application, around 500 active users, can no longer count on the income of its subsidiary TON (Telegram Open Network), whose objective was to establish and promote a financial network around a cryptocurrency called Gram . Indeed, last May, Telegram announced the end of its project following a procedure conducted by the Security and Exchange Commission (SEC).

The project was funded by the pre-sale of grams for standard currencies, and in doing so recovered $ 1.7 billion. An operation that American justice deemed suspicious, leading it to order the suspension of the project. “We allege that the defendants failed to provide investors with information regarding Gram’s and Telegram’s business activities, financial condition, risk factors and management, in accordance with securities laws“said SEC Division of Enforcement co-director Stephanie Avakian.

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