Messaging app Telegram is considering an initial public offering (IPO) after years of focusing on user privacy and resisting investor pressure.
Messaging app Telegram is considering an initial public offering (IPO) after years of focusing on user privacy and resisting investor pressure. Co-founder Pavel Durov, in his first interview since 2017, revealed that the company's aim is to become profitable this year or next.
Telegram, known for its large group chats and encryption features, boasts 900 million users. Durov, who now solely owns the company, sees an IPO as a way to "democratize access to Telegram's value." This comes despite investor interest with valuations exceeding $30 billion.
The company has already begun monetization efforts, launching an advertising platform this month. The advertising platform is based on the TON blockchain, and channel owners can earn 50% in ad revenue in Toncoin (TON). Telegram is also considering offering shares to loyal users during the IPO, similar to Reddit's recent approach.
Following the news of the possible IPO, TON has surged to $3.57, gaining over 28% in the past 24 hours. The announcement of revenue-sharing for channel owners has also contributed to a monthly gain of over 70%, propelling TON to the 13th most valuable cryptocurrency.
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