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Pavel Durov, the enigmatic founder of Telegram, has always been known for fiercely protecting the platform’s independence. When asked why he didn’t take large sums of money in exchange for equity or control, his answer was simple: “I didn’t see any reason to do that.”
Photo: Bloomberg
Independence Above All
Durov’s philosophy stems from his deep commitment to keeping Telegram free from external influence. By not giving up ownership or voting rights, he ensured that the platform could prioritize user privacy and functionality over shareholder profits. In a world where tech giants are often at the mercy of investors, this is a rare stance.
Strategic Funding Without Compromise
Although Telegram didn’t sell equity, it wasn’t entirely self-funded. Durov clarified that the company did raise funds through other means. For instance:
Debt Financing: Telegram issued bonds three years ago, raising funds without diluting ownership.
Cryptocurrency Projects: They ventured into blockchain, generating revenue through innovative projects.
These methods allowed Telegram to grow while maintaining its autonomy—a delicate balance many startups fail to achieve.
Lessons from Telegram's Journey
Durov’s approach underscores an important lesson: control matters. Startups often face immense pressure to trade equity for growth, but maintaining ownership can be the key to staying true to your vision. Telegram’s success shows that it’s possible to fund growth while safeguarding the values that define your company.
Consider Apple’s Steve Jobs, who lost control of his company after investor disagreements in the 1980s. While Jobs eventually returned, the experience highlighted how external control can jeopardize a founder’s vision.
Why It Matters
By prioritizing independence, Durov ensured that Telegram could continue offering secure, private communication for its users without compromise. His decision serves as a beacon for entrepreneurs everywhere: growth is important, but not at the expense of your mission.
So the next time you’re faced with tough choices in your business, ask yourself: What price are you willing to pay for control?
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