The native blockchain token of The Open Network (TON) rose 10% - from $2.8 to $3.1 - after reporting a possible Telegram IPO. The owner of the messenger, Pavel Durov, spoke about preparations for entering the stock market.
The capitalization of the asset exceeded $10 billion with a trading volume of $15 million. Over the past month, TON has increased in price by 47%.
In a conversation with reporters, Durov emphasized that Telegram has become one of the most popular applications in the world, receiving “hundreds of millions of dollars” in income after introducing advertising and premium subscriptions.
“The main reason we started monetizing [the messenger] is that we wanted to remain independent. Essentially, we view the value [IPO] as a means of democratizing access to the value of Telegram,” he said.
According to Durov, large players are interested in Telegram entering the stock market, including “late-stage global technology funds.” He also noted that potential investors “valued the company at $30 billion.”
The founder of the messenger refused to comment on the timing and possible location of the initial public offering, but clarified that the company “studied several options.”
Durov recalled preparations for the launch of payments to channel owners for showing advertisements, which will be awarded in TON. He also announced the arrival of business accounts, new social features and the integration of AI to improve moderation.
Let us remember that in February Durov proposed a solution to maintain the decentralization of TON. The Telegram team will be limited in the ownership of tokens at the level of 10% of the total issue, and advertising in the messenger will be sold for digital assets.#TON #mistersailer