Toncoin (TON) has skilled a notable uptrend in current weeks, pushed by important information and bulletins surrounding the favored social media platform Telegram, the newest being a possible preliminary public providing (IPO).
Telegram Consumer Base Surpasses 900 Million
In line with his newest look, apart from his fixed bulletins via his channel on the social media platform, Pavel Durov, the CEO of Telegram, shared that the messaging app has amassed over 900 million customers, up from 500 million in 2021, and is steadily approaching profitability.
In an interview with the Monetary Occasions, Durov revealed that Telegram’s introduction of promoting and premium subscription companies two years in the past has enabled the corporate to generate “a whole bunch of thousands and thousands of {dollars}” in revenues. With yearly bills at lower than 70 cents per month-to-month consumer, Telegram’s monetary development is gaining momentum.
Telegram is implementing varied methods as a part of its ongoing efforts to generate income. As reported by NewsBTC, the corporate is planning to introduce income sharing with channel creators, providing them a 50% share of the advertising finances.
Moreover, Telegram is launching enterprise accounts and a “social discovery” function, which can reportedly facilitate consumer interplay and assist join people close by. These initiatives goal to diversify Telegram’s income streams and supply extra worth to its consumer base.
Potential Valuation Exceeds $30 Billion
Telegram has reportedly garnered important curiosity from potential buyers, with affords exceeding $30 billion in valuation. Nevertheless, throughout the interview with the Monetary Occasions, Durov emphasised that the corporate’s precedence is to stay impartial, and an IPO would function a method to “democratize” entry to Telegram’s worth. Durov acknowledged:
The primary motive why we began to monetize is as a result of we needed to stay impartial. Typically talking, we see worth in [an IPO] as a method to democratize entry to Telegram’s worth.
Whereas Durov didn’t present a selected timeline or venue for the potential IPO, two individuals aware of the matter instructed the Monetary Occasions that Telegram could pursue a US itemizing as soon as profitability is achieved and market situations are favorable.
Notably, the messaging app platform has already raised roughly $2 billion in debt financing via bond choices, offering flexibility for future monetary choices.
Within the occasion of an IPO, Telegram is contemplating promoting an allocation of inventory to loyal customers, much like Reddit’s current announcement. This strategy goals to contain the neighborhood and foster a way of possession.
Moreover, Telegram is exploring the potential of a smaller fairness increase to gas its synthetic intelligence (AI) ambitions, together with introducing an AI-powered chatbot. The corporate additionally plans to boost its moderation processes and deploy AI-related mechanisms to handle potential points, notably throughout world elections.
TON Climbs The Ranks
With Telegram’s endorsement and integration of TON into the app’s consumer interface and introducing a brand new advert revenue-sharing system, Toncoin has surged 97% up to now month, marking new yearly highs for the token.
As well as, Telegram’s potential preliminary public providing has additional bolstered Toncoin’s upward trajectory, with a 20% spike up to now 24 hours, leading to a present buying and selling value of $4.40.
On high of that, TON has climbed into the highest 13 largest cryptocurrencies available on the market with a capitalization of $15 billion, surpassing different main cash comparable to Polkadot (DOT), Polygon (MATIC) and Chainlink (LINK).
Featured picture from Shutterstock, chart from TradingView.com
