According to a report by the Financial Times, Telegram, the fourth largest messaging app in the world, with nearly 900 million users, is approaching profitability. Pavel Durov, the founder of Telegram, stated in an interview that since introducing paid subscription options and advertisements 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).
During an interview with the Financial Times on March 11th, Durov stated that potential investors value Telegram at over $30 billion. Furthermore, according to two sources cited by the Financial Times, 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 the release of this news, the native token of the Layer 1 blockchain The Open Network (TON) rose by over 21%. At the time of writing this article, the TON trading price is $3.45.
Related report: “What impact will TON bring to Telegram advertising with TON payment?”
