“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 news has caused a 25% surge in the price of TON coin.
(Background:
Telegram Major Upgrade: Introduction of Enterprise Accounts with New Features such as AI Chatbots, Group Conversations, and Business Settings.)
Summary:
Telegram User Base Exceeds 900 Million, Nearing Profitability
Telegram Has Raised $2 Billion in Funding
TON Surges 25%
After announcing the introduction of Enterprise Accounts last Friday (8), the popular global instant messaging app Telegram (TG) released another significant news yesterday (11). According to sources cited by the UK’s “Financial Times,” Telegram may consider going public in the United States once it achieves profitability and market conditions allow.
Telegram User Base Exceeds 900 Million, Nearing Profitability
Pavel Durov, Telegram CEO, told the “Financial Times” that the company has generated “hundreds of millions of dollars in revenue” since introducing advertisements and paid subscriptions two years ago, bringing TG closer to profitability. Durov also pointed out that Telegram’s monthly active user base has 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 potentially go public soon, Durov explained that:
Telegram Has Raised $2 Billion in Funding
The “Financial Times” further noted that Telegram has previously raised approximately $2 billion in debt financing, including:
$1 billion in bonds issued in 2021;
$750 million and $270 million bonds issued last year.
It is worth noting that if Telegram goes public before the end of March 2026, holders of the above-mentioned bonds will be able to convert their senior unsecured debt into equity at a discount of 10% to 20% of the IPO price to facilitate the listing of Telegram.
Lastly, Durov also expressed his interest in smaller-scale equity financing, which would be used for the development of artificial intelligence (AI).
TON Surges 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 collaboration with TON in terms of advertising revenue payment (50% of Telegram’s advertising revenue will be paid to channel owners in TON tokens). Encouraged by Telegram’s IPO plans on the 11th, TON experienced a strong surge and reached $3.4 this morning, with an increase of over 25% in the past 24 hours.
Further Reading:
TON Foundation Deep Dive: How to Build a Telegram “Web3 Super Application”
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TON Trends. Image source: CoinGecko
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