In his first interview since 2017, Pavel Durov, co-founder of Telegram, discussed the messaging service’s future and its financial prospects. Durov revealed that the company is considering an initial public offering (IPO) as a means to democratize access to Telegram’s value. Despite receiving offers from investors valuing the company at over $30 billion, Durov stated that an IPO is still on the table. According to anonymous sources, Telegram is likely to pursue a listing in the United States once it becomes profitable.
To raise funds, Telegram has already secured $2 billion through bond issues since 2021. Bondholders would receive a 10-20% discount on the Telegram IPO if it is launched before March 2026. Durov also expressed interest in following Reddit’s lead by offering loyal users the opportunity to acquire shares during the IPO.
In a filing submitted to the United States Securities and Exchange Commission (SEC) on March 11, Reddit announced its plans to raise $519 million in an IPO. Additionally, its investors intend to sell an additional 6.7 million shares, resulting in a total fundraising amount of $748 million.
To further raise funds, Telegram recently launched an advertising platform on the TON blockchain. Channel owners are offered 50% of the total advertising revenue generated from displaying ads on their channels.
According to the Financial Times, Telegram boasts 900 million users and approximately 50 employees, making it the fourth-largest messaging service in use.
Durov, who previously co-founded Russia’s popular social media platform Vkontakte in 2007, faced legal troubles in 2019 when the SEC sued Telegram to halt a $1.7 billion initial coin offering for the launch of GRAM. In May 2020, Telegram abandoned its plans to launch the coin and exited the TON Network.
Magazine: The SEC’s Telegram Epic Fail — Crypto COVID-19 Response Nailed It.