Telegram to Make Wall Street Debut; Announces Revenue Sharing for Creditors

Nausheen Thusoo
March 11, 2024
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Telegram Founder Holds Millions In Bitcoin & Fiat, Here's Why

Highlights

  • Telegram claims that the company has 900 million users.
  • Telegram's IPO comes at a time when its peer Reddit is also in the process of commencing trading in the US.
  • elegram's IPO, if it goes through, will also help its blockchain division excel in the larger realm of the market.

The social media platform Telegram is on track to make its Wall Street debut soon. According to a report by the Financial Times, the company is potentially eyeing an initial public offering while expecting to be profitable by 2025. The company’s road to profitability has also led to the firm introducing a revenue-sharing model for its creditors.

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Telegram Eyes US Listing

According to the Financial Times, the owner of the private messaging app, Telegram, claims that the company has 900 million users and is almost profitable as it gets closer to a possible blockbuster stock market debut. The report also highlights that with the promise of giving the creators who manage their channels a 50% share of marketing funds, the company will launch revenue sharing this month.

Telegram had grown to become one of the world’s most popular social media apps while making “hundreds of millions of dollars” in revenues after introducing advertising and premium subscription services two years ago, Pavel Durov told the Financial Times.

Although the timeline for the IPO is still unclear, it will come at a time when social media firms are minting on subscription and advertisement revenue. FT says that once Telegram achieves profitability and the market sustains to be favorable, the company would likely pursue a US listing.

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Telegram’s IPO Plans Coincide with Peer Reddit

Telegram’s IPO comes at a time when its peer Reddit is also in the process of commencing trading in the US. One of the most anticipated stock market debuts of the year, Reddit, is targeting a valuation of up to $6.4 billion in its IPO. Reddit announced recently that the corporation and several important investors intend to sell approximately 22 million shares at a price between $31 and $34 each, hoping to attract considerable interest from investors and market players worldwide. At present the valuation for Telegram is unknown but will be an important factor in understanding where the company is valued in the border market with suitability to completion.

Read Also: Telegram Trading Terminal Unibot Ends Collaboration With a Solana Group

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Telegram’s Blockchain Venture to Also Benefit

Telegram had also ventured into the blockchain and Web3 domain with the introduction of TON. Telegram Open Network (TON) is a decentralized worldwide blockchain network that was incorporated to make cryptocurrency accessible to anyone. By integrating Telegram Messenger with the Web3 ecosystem, TON is currently on track to enable 500 million people to take control of their digital identities, assets, and data by 2028.

Telegram’s IPO, if it goes through, will also help its blockchain division excel in the larger realm of the market. This could place it in line with peers, thereby helping to mint a greater deal of revenue from the segment.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.