Fun

Telegram close to profitability, considering IPO, owner Durov says

News Feed - 2024-03-12 03:03:16

Derek Andersen5 hours agoTelegram close to profitability, considering IPO, owner Durov saysThe world’s fourth-largest messaging app may look for a U.S. listing after its IPO. Investor offers have valued Telegram at over $30 billion.1170 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksTelegram co-founder Pavel Durov gave his first interview since 2017 to talk about the messaging service’s future, and particularly its financial future. An initial public offering (IPO) is under consideration, he said.


Pavel Durov and his brother Nikolai founded Telegram in 2013. Pavel Durov is now the sole owner of the company, according to the Financial Times. He told the newspaper on March 11:“We are hoping to become profitable next year, if not this year.”


Durov said the company has “started to monetise,” and “we see value in [an IPO] as a means to democratise access to Telegram’s value.” This comes despite offers from investors at “$30bn-plus valuations.” The newspaper wrote that two unnamed sources had told it that Telegram would probably seek a listing in the United States once the company becomes profitable.


Telegram has already raised $2 billion through bond issues since 2021. Bondholders would receive a 10-20% discount on the Telegram IPO if it is floated before March 2026. Durov also told the newspaper that Telegram would consider following the lead of Reddit by offering “loyal” users shares during the IPO as well.


Reddit announced in a filing submitted to the United States Securities and Exchange Commission (SEC) on March 11 that it hoped to raise $519 million in an IPO, and its investors would sell another 6.7 million shares for a total fundraise of $748 million.


Related: Reddit converts excess cash into Bitcoin and Ethereum


Telegram launched an advertising platform this month in another attempt to raise funds. The platform operates on the TON blockchain. Telegram is offering channel owners 50% of total advertising revenue from displaying ads on their channels.Source: @KevinRothrock on X


Telegram has 900 million users and about 50 employees, according to statistics cited by the Financial Times. That makes it the fourth-largest messaging service in use.


Durov was the co-founder of Vkontakte, Russia’s most popular social media, in 2007. In 2019, the SEC sued Telegram to halt a $1.7 billion initial coin offering for the launch of GRAM. Telegram gave up its attempt to launch the coin and exited the TON Network in May 2020.


Magazine: The SEC’s Telegram Epic Fail — Crypto COVID-19 Response Nailed It# Business# Telegram# IPO# Pavel Durov# TON# RegulationAdd reactionAdd reaction

News Feed

Jesse Coghlan3 hours agoGary Gensler’s Bitcoin ETF position is ‘inconsistent’… says Gary GenslerDuring a panel at the 2019 MIT Bitcoin Expo, Gensler called out the securities regulator for its “inconsistent”
SEC Drops the Ball on Crypto Regulation and There Are Long-Term Consequences, Says Commissioner
SEC Drops the Ball on Crypto Regulation and There Are Long-Term Consequences, Says Commissioner A commissioner with the U.S. Securities and Exchange Commission (SEC) has warned tha
Vodafone looks to integrate crypto wallets with sim cards
Tristan Greene7 hours agoVodafone looks to integrate crypto wallets with sim cardsThe telecom company is reportedly seeking $1.8 billion in loans amid a plan to raise a total of $2.9 billion in debt3116 Total views26 Tot
Amaka Nwaokocha12 hours agoSEC to present response to Coinbase’s legal defense on July 13The court also rescheduled the pre-trial conference to a pre-motion conference, shifting it to July 13 from its original date of
Solana Price On The Verge Of 2022-Like Crash To Send It Back To $22?
Este artículo también está disponible en español. The Solana price is on the verge of a possible meltdown reminiscent of Terra‘s (LUNA) infamous collapse in 2022. A cry
Philippine Central Bank Widens Cryptocurrency Regulation — Sees ‘Accelerated Growth’ in Crypto Activity
Philippine Central Bank Widens Cryptocurrency Regulation — Sees "Accelerated Growth" in Crypto Activity The Philippines’ central bank, the Bangko Sentral
German Savings Banks Consider Offering Crypto Services to Customers
German Savings Banks Consider Offering Crypto Services to Customers An association of savings banks in Germany is looking to offer crypto services to customers in a pilot test that
Indian Police Search for Bitconnect Founder After the US Indicted Him for Defrauding Crypto Investors
Indian Police Search for Bitconnect Founder After the US Indicted Him for Defrauding Crypto Investors The Indian police have launched an investigation into Bitconnect and booked it
Bitcoin Price Forms Double Bottom After Crash, Is A Bounce To $112,000 ATH Possible?
Este artículo también está disponible en español. According to a TradingView crypto analyst named ‘TradingShot,’ the Bitcoin price has formed a Double Bottompattern a
Biggest Movers: SHIB, DOT Remain Near 3-Month Highs, Despite Crypto Markets Falling
Biggest Movers: SHIB, DOT Remain Near 3-Month Highs, Despite Crypto Markets Falling Shiba inu was one of Friday’s biggest gainers, as the meme coin remained close to a recent thr
Kenyan Fintech Player: ‘Banking the Unbanked’ Is the Most Important Use Case for Digital Currencies in Africa
Kenyan Fintech Player: "Banking the Unbanked" Is the Most Important Use Case for Digital Currencies in Africa The year 2020 may well go down as the year when blockchain technology
Major Swedish Bank Fined $386 Million for Hiding Money-Laundering Evidence
Major Swedish Bank Fined $386 Million for Hiding Money-Laundering Evidence Sweden’s Financial Supervisory Authority (FSA), ’Finansinspektionen’, has fined Swedb