Toncoin (TON) Hits New Yearly Peaks, Surging 60% On Buzz Surrounding Potential Telegram IPO
March 13 2024 - 5:00PM
NEWSBTC
Toncoin (TON) has experienced a notable uptrend in recent weeks,
driven by significant news and announcements surrounding the
popular social media platform Telegram, the latest being a
potential initial public offering (IPO). Telegram User Base
Surpasses 900 Million According to his latest appearance, aside
from his constant announcements through his channel on the social
media platform, Pavel Durov, the CEO of Telegram, shared that the
messaging app has amassed over 900 million users, up from 500
million in 2021, and is steadily approaching profitability.
Related Reading: Bitcoin Whales Are Cashing Out Amid Push To New
All-Time High In an interview with the Financial Times, Durov
revealed that Telegram’s introduction of advertising and premium
subscription services two years ago has enabled the company to
generate “hundreds of millions of dollars” in revenues. With yearly
expenses at less than 70 cents per monthly user, Telegram’s
financial growth is gaining momentum. Telegram is implementing
various strategies as part of its ongoing efforts to generate
revenue. As reported by NewsBTC, the company is planning to
introduce revenue sharing with channel creators, offering them a
50% share of the marketing budget. Additionally, Telegram is
launching business accounts and a “social discovery” feature, which
will reportedly facilitate user interaction and help connect
individuals nearby. These initiatives aim to diversify Telegram’s
revenue streams and provide additional value to its user base.
Potential Valuation Exceeds $30 Billion Telegram has reportedly
garnered significant interest from potential investors, with offers
exceeding $30 billion in valuation. However, during the interview
with the Financial Times, Durov emphasized that the company’s
priority is to remain independent, and an IPO would serve as a
means to “democratize” access to Telegram’s value. Durov stated:
The main reason why we started to monetize is because we wanted to
remain independent. Generally speaking, we see value in [an IPO] as
a means to democratize access to Telegram’s value. While Durov did
not provide a specific timeline or venue for the potential IPO, two
people familiar with the matter told the Financial Times that
Telegram may pursue a US listing once profitability is achieved and
market conditions are favorable. Notably, the messaging app
platform has already raised approximately $2 billion in debt
financing through bond offerings, providing flexibility for future
financial decisions. In the event of an IPO, Telegram is
considering selling an allocation of stock to loyal users, similar
to Reddit’s recent announcement. This approach aims to involve the
community and foster a sense of ownership. Furthermore,
Telegram is exploring the possibility of a smaller equity raise to
fuel its artificial intelligence (AI) ambitions, including
introducing an AI-powered chatbot. The company also plans to
enhance its moderation processes and deploy AI-related mechanisms
to address potential issues, particularly during global elections.
TON Climbs The Ranks With Telegram’s endorsement and integration of
TON into the app’s user interface and introducing a new ad
revenue-sharing system, Toncoin has surged 97% in the past month,
marking new yearly highs for the token. Related Reading:
Number Of Ethereum Short-Term Holders Increasing – Is A Bull Rally
Next? In addition, Telegram’s potential initial public offering has
further bolstered Toncoin’s upward trajectory, with a 20% spike in
the past 24 hours, resulting in a current trading price of $4.40.
On top of that, TON has climbed into the top 13 largest
cryptocurrencies on the market with a capitalization of $15
billion, surpassing other major coins such as Polkadot (DOT),
Polygon (MATIC) and Chainlink (LINK). Featured image from
Shutterstock, chart from TradingView.com
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