Telegram on the Verge of Profitability, Founder Contemplating IPO as TON Token Soars Over 20%

Telegram on the Verge of Profitability, Founder Contemplating IPO as TON Token Soars Over 20%

Telegram on the Verge of Profitability, Founder Contemplating IPO as TON Token Soars Over 20%

According to the Financial Times, Telegram, the fourth largest communication software in the world, with nearly 900 million users, is close to profitability. Its founder, Pavel Durov, stated in an interview that since introducing paid subscription options and advertising two years ago, Telegram has generated “hundreds of millions of dollars” in revenue. He also revealed that the company is considering an initial public offering (IPO) for the first time.

In an interview with the Financial Times on March 11th, Durov stated that potential investors value Telegram at over 30 billion dollars. Furthermore, according to the Financial Times, citing two sources, once Telegram becomes profitable, the company is likely to seek a listing in the United States.

Durov also mentioned that Telegram would consider following the example of the social media platform Reddit and distribute stocks to loyal users during the IPO.

Following this news, the native token of Layer 1 blockchain, The Open Network (TON), rose over 21%. At the time of this publication, the TON trading price was $3.45.

Related report: “What impact will TON payments have on Telegram ads?”