“Financial Times” reported on Monday (11) that the globally renowned messaging app Telegram is approaching profitability and considering going public in the United States. This has caused the price of TON coin to surge by 25%.
(Background information:
Viewpoint: Microcosm Labs – “TON+Telegram” surpasses WeChat to create a global financial hub public chain.)
Table of Contents:
Telegram surpasses 900 million users, approaching profitability
Telegram has raised $2 billion in funding
TON surges by 25%
After announcing the launch of corporate accounts last Friday (8), the globally renowned instant messaging app Telegram (TG) has released another major news on the 11th. According to sources cited by the UK’s “Financial Times,” if Telegram achieves profitability and market conditions allow, it may consider going public in the United States.
Telegram surpasses 900 million users, approaching profitability
Pavel Durov, CEO of Telegram, told the “Financial Times” that the company has generated “hundreds of millions of dollars in revenue” since the introduction of advertising and subscription services two years ago, bringing TG closer to profitability. Durov also pointed out that Telegram’s monthly active users have grown from 500 million at the beginning of 2021 to 900 million, making it “one of the most popular social media applications globally.”
Regarding the decision for Telegram to go public soon, Durov explained:
Telegram has raised $2 billion in funding
The “Financial Times” further pointed out that Telegram has previously raised approximately $2 billion in debt financing, including:
– $1 billion in bonds issued in 2021
– $750 million and $270 million in bonds issued last year
It is worth noting that if Telegram goes public by the end of March 2026, the holders of the aforementioned bonds will be able to convert their senior unsecured debt into equity at a discount of 10% to 20% of the IPO price, facilitating Telegram’s listing.
Finally, Durov also expressed his interest in smaller-scale equity financing and intends to use it for the development of artificial intelligence (AI).
TON surges by 25%
As we know, the public chain TON has had a close connection with Telegram for a long time. At the end of last month, Pavel Durov announced a cooperation with TON in the payment of advertising revenue (50% of Telegram’s advertising revenue will be paid to channel owners in TON tokens). Encouraged by Telegram’s plan for an IPO on the 11th, TON showed a strong surge, reaching $3.4 this morning, with a surge of over 25% in the past 24 hours.
Further reading:
TON Foundation’s in-depth discussion: How to build a Telegram “Web3 Super App” ecosystem
Image source: CoinGecko
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