The native token of The Open Network (TON) blockchain surged by 10%—from $2.8 to $3.1—following news of a potential IPO for Telegram. The messaging app’s owner, Pavel Durov, discussed preparations for entering the stock market in an interview with Financial Times.
According to CoinGecko, the asset’s market capitalization exceeded $10 billion with a trading volume of $15 million. Over the past month, TON’s price has increased by 47%.
In the interview, Durov emphasized that Telegram has become one of the world’s most popular apps, generating “hundreds of millions of dollars” in revenue 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 [of an IPO] as a means to democratize access to Telegram’s worth,” he stated.
According to Durov, major players, including “global late-stage tech funds,” are interested in Telegram’s stock market debut. He also noted that potential investors “valued the company at $30 billion.”
The founder of the messenger declined to comment on the timing and possible location of the initial public offering but mentioned that the firm has “explored several options.”
Durov highlighted preparations for launching payments to channel owners for displaying ads, which will be paid in TON. He also announced the introduction of business accounts, new social features, and AI integration to enhance moderation.
Back in February, Durov proposed a solution to preserve TON’s decentralization. The Telegram team will be limited to owning 10% of the total token supply, and advertising in the messenger will be sold for digital assets.