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Plans for Telegram IPO in doubt as FT reveals messaging app lost €156 million in 2023

Messaging app Telegram’s total losses in 2023 stood at around €156 million after tax, The Financial Times reported on Friday, referring to an unpublished company report that it obtained.

Analysts who spoke with the FT said that French legal proceedings against the company’s founder and CEO Pavel Durov could jeopardise Telegram’s plans for an initial public offering (IPO) within the next two years. Bond investors would face a similar dilemma,” adding that he had heard nothing from Telegram’s management since the news of Durov’s arrest broke last weekend. Indeed, social media expert and University of Zurich researcher Aleksandra Urman told the FT that the app’s centralised leadership style had raised questions over whether Telegram could “exist without Pavel”.

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