Telegram Rumored to be Considering IPO, TON Tokens Surge by 12%
According to the Financial Times, the number of Telegram users has reached nearly 900 million, and its founder Pavel Durov stated that it is approaching profitability.
According to an interview with the Financial Times and Pavel Durov, he stated that the introduction of advertising and advanced services has generated “hundreds of millions of dollars” in revenue, making it one of the most popular social media applications in the world. Telegram is now raising “hundreds of millions of dollars” to secure its future profitability. It is said that the platform has increased its user base from 500 million at the beginning of 2021 to 900 million.
He told the Financial Times that Telegram is considering an initial public offering (IPO) and has received investor valuations of over $30 billion.
According to two sources, once Telegram becomes profitable and market conditions are favorable, it may seek a listing in the United States. Durov refused to comment on the timetable or possible locations. Telegram has raised approximately $2 billion in debt financing through a $1 billion bond issue in 2021 and further issuances of $75 million and $27 million last year.
Contents
Toggle
Denying any connection with crime and Russia
Expanding advertising revenue and introducing AI chatbots
IPO marketing strategy: TON token surges 12%
There are concerns that this lightly managed platform is still a breeding ground for criminal activities, extremist or terrorist content, and misinformation. Critics of Telegram have previously suggested that the Russian government may have connections to or influence over Telegram, which Durov denies.
Durov, who is of Russian nationality, co-founded Telegram with his brother in 2013. He stated that he left Russia a year later after refusing to share certain user data with Russian security agencies. Durov also stated that under pressure, he sold his shares in the company he co-founded, VK, to an oligarch friendly with the Russian government for $300 million.
Durov stated that Telegram has been testing advertisements in certain regions, requiring each marketer or agency to spend at least 1 million to 10 million euros. This year, the service plans to expand globally and target smaller advertisers through an automated system.
He also mentioned that Telegram is exploring the introduction of an AI-driven chatbot.
Following the report by the Financial Times, the Telegram ecosystem’s cryptocurrency TON surged over 12% to $3.11, with a trading volume-to-market cap ratio of 0.014 (compared to 0.039 for Bitcoin).
TON is a token heavily supported by Telegram, claiming to be community-driven. It was created in 2018 when Telegram raised nearly $1.7 billion but was later sued by the U.S. SEC. After refunding the investors, the TON project emerged. TON is distributed through mining, avoiding the risks of illegal fundraising, and is currently widely used in the Telegram app.
Considering the rumored sensitive relationship between Telegram and Russia, it remains to be seen whether it can successfully go public through an IPO in the United States. Recently, eToro and Reddit have also claimed their intention to IPO, demonstrating the market’s enthusiasm and allowing these popular companies that failed to IPO during the previous bull market to re-enter and test the waters.
Furthermore, the relationship between the TON token and Telegram shares will also impact the price changes of both.
IPO
telegram
ton
