Telegram Raises Another $850 Million For Largest ICO Ever
Messaging app Telegram has raised an additional $850 million for its initial coin offering, according to documents filed with the SEC on Thursday. The funding means that Telegram has raised a total of $1.7 billion so far for what will likely be the largest ICO in history.
Telegram last raised $850 million in February for its first round of funding. Rather than issue traditional company shares, Telegram is giving investors discounted rates for its “Gram” virtual coins, which will be used to build a decentralized network for the Telegram app.
While investors were required to cut multi-million dollar checks to buy heavily discounted Telegram coins for the app's first round of funding, this second $850 million round required a minimum investment of $1 million, Telegram told the SEC.
Dubai-based Telegram is reportedly planning to raise yet another $850 million in a third offering to investors, bringing its grand total of funding to roughly $2.5 billion. Telegram planned to sell its Grams in a public presale as well but abandoned the plan after the SEC increased its scrutiny of the ICO market, according to a person familiar with the matter. The app recently [announced] (https://telegram.org/blog/200-million) that it has 200 million monthly users.
*Reporting by Alex Heath.*
Joe Spector, founder of Dutch and Hims & Hers co-founder, joins us to discuss how telehealth is transforming pet care—and what’s next for modern vet medicine.
Exclusive: Behr’s Andy Lopez reveals how ChatHUE, a bold collaboration with Google, is using AI to transform how we explore, choose, and connect with color.
Brian Vendig, President & CIO of MJP Wealth Advisors, joins to break down Q2 bank earnings and what they signal for markets, investors, and the economy ahead.
Are Gen Z and Millennials done with alcohol? Bacardi's Tony Latham breaks down trends, new preferences, and insights from the 2025 Cocktail Trends Report.
Comscore’s Paul Dergarabedian breaks down the battle of summer blockbusters, from Superman to Jurassic World and Fantastic Four and what it means for studios.
VENU CEO JW Roth breaks ground on a 20,000-seat, state-of-the-art amphitheater in Texas—part of a $300M public-private expansion to redefine live music.
