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6 things we learned from the founder of Telegram's first interview in 7 years

Business InsiderBusiness Insider · 1y ago
6 things we learned from the founder of Telegram's first interview in 7 years
Medial

Telegram founder Pavel Durov revealed in a recent interview that his company is on the verge of profitability and may soon go public. Durov, often referred to as the "Mark Zuckerberg of Russia," stated that an initial public offering (IPO) is being considered as a means to democratize access to Telegram's value. The messaging app currently boasts 900 million monthly active users, almost double the amount reported earlier this year. With the introduction of paid subscriptions and advertising, Telegram has generated "hundreds of millions of dollars" in revenue and aims to become profitable in the next year. Durov expressed interest in exploring AI ambitions and implementing features such as revenue sharing with content creators and business accounts. Additionally, a "social discovery" feature that facilitates networking and dating within the app is in development.

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Cars24 lays off 200 Employees

EntrackrEntrackr · 2m ago
Cars24 lays off 200 Employees
Medial

Cars24, the e-commerce platform for pre-owned vehicles, has laid off over 200 employees as part of a cost-cutting measure, according to three sources familiar with the development. According to sources, the SoftBank–backed company provided affected employees with standard severance packages. In a statement to Entrackr, Vikram Chopra, co-founder and CEO of Cars24, said, "This is a tough decision. Over the past few weeks, we've had to part ways with around 200 employees across various functions. We are deeply grateful for their contributions. The layoffs are not about performance, but about structure and the bets we placed. We've learned that speed without clarity is expensive, and some projects and roles were added prematurely. Moving forward, we need to be more strategic and deliberate with our investments and team-building." Despite not raising any external funding in the last three and a half years, Cars24 secured $450 million in December 2021 from investors including SoftBank, Tencent, DST Global, and Falcon Edge’s Alpha Wave. This funding round valued the company at $3.3 billion. In FY24, Cars24 reported a 25% year-on-year increase in revenue, from Rs 5,530 crore in FY23 to Rs 6,917 crore. Despite this, the company posted a net loss of Rs 498 crore and an adjusted EBITDA loss of Rs 318 crore for the same period.

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