Telegram is one of three apps I've been following closely since they started monetizing their free users. X and Snapchat are the other two.
Telegram's revenue has been growing steadily since the subscription rolled out in the summer of 2022, but February's biggest month to date!
Perfect timing considering the company just raised $330M in fresh money as it aims to become profitable and potentially IPO.
Telegram ended February with $5.2M in net revenue from the App Store and Google Play, according to our estimates. That's a 13% increase from January which was higher than December.
Overall, Telegram is doing very well. Revenue growth can be described as "slow and steady", which is probably why it needs to raise additional revenue. But slow and steady may win this race. Only time will tell.
To date, Telegram earned a total of $52M of net revenue, mainly coming in through the App Store, where Russia is the biggest contributer followed by Ukraine.
Downloads aren't too different. Telegram has been growing its downloads steadily since rolling out the in-app purchase in a slow and steady kind of way.
Our estimates show 26M downloads in February and a total of 506M downloads since June of 2022, when the in-app purchase was added. Unlike revenue, downloads are coming mainly from India, which contributed 94M to that total.
Overall, Telegram is growing both in downloads and revenue - just not too fast.
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