Topic: Telegram Cancels ICO After Raising Nearly $2 Billion in Private Money (Read 126 times)
I read the original post and found there only information about Durov brothers, Telegram and fundraising. The name kind of implies that there will be no TON, no gram etc., while the news (pretty old, I must say) is about stopping to raise funds. Now I am confused: if they got the money from people then they must proceed with offering their token; if they are cancelling the offering then they should give the money back. What's the plan here? There are similar pieces of news in Russian, where it is written that the coins will truly not be offered and the money will be used to build the ton network. Isn't it a bit scammy?
May 09, 2018, 02:45:57 AM
Very disappointing crowds, whereas many people wait for ICO to be held by telegram. Stay patient for crypto users, cancellation of this project there must be a separate reason for them.
May 09, 2018, 02:41:21 AM
Interesting. I think it was supposed to be the biggest ICO to date. I wonder what will come out of it now.
it is big because a big name is behind it. that is how ICOs have always worked. they use a lot of hype and get a lot of money, the better they hype their projects the more money they can gather.
May 09, 2018, 02:28:20 AM
As far as I know, all the projects of Pavel Durov were very successful. I'm really looking forward to when he will finish this project of his own
What do you mean about all? I've not even seen pavel running an ico instead of TON ico. So, i guess TON ico is the only one that has been created by him. Remember the success of pavel has come from the how popular telegram in our community and i remember less than 200 investors have participated in the TON ico. 
May 09, 2018, 02:21:24 AM
As far as I know, all the projects of Pavel Durov were very successful. I'm really looking forward to when he will finish this project of his own
May 03, 2018, 05:08:28 AM
Yes it is quite reasonable because they collect so much money in private sale that they can create platform with it.
May 03, 2018, 05:04:18 AM
Interesting. I think it was supposed to be the biggest ICO to date. I wonder what will come out of it now.
May 03, 2018, 05:02:11 AM
ICO isn’t needed after raising $1.8 billion in private funds
Telegram Group Inc. announced that it is ending plans for public fund raising since it has raised so much money from private investment. Originally the startup messaging service created by Russian brothers Pavel and Nikolai Durov planned to launch their public ICO for the gram coin in order to fund their Telegram Open Network (TON) but since they took in almost $2 billion in two rounds of private funding the ICO has been scrapped.
As was reported in the Wall Street Journal Telegram’s initial plans were to raise $1.2 billion dollars to build their TON network evenly split between private and public rounds of fundraising. After it raised a reported $850 million in its first round of private investment in February and then matched that number in another private round in March they decided to cancel the public funding round.
An unnamed source told the WSJ that it was because the regulatory environment had changed over that time period. That is the SEC has begun to focus on ICO’s which in this case could bring scrutiny onto company executives. Private fundraising isn’t subject to the same rigorous examination as a public round would be.
Money Will be Used to Expand the TON
Telegram has released a 23-page description of it’s updated plans since their private investment rounds. In it, they describe building out the technology for the TON network as well as further development and maintenance of its main messenger service. In addition the plans mention a “Visa/Mastercard alternative for a new decentralized economy,” to be based on their blockchain network.
Telegram has argued that current cryptocurrencies in the form of Bitcoin and Ether haven’t attracted a mass market due to structural flaws but with their access to such a large user base, they will be able to bring the new technology to a broader market.
Pavel Durov is the well-known face of Telegram who started the Russian equivalent of Facebook, VKontakte, which he sold in 2013 in order to start Telegram. Since then Telegram has gained over 200 million users and some controversy as well. Described as the messaging platform for criminals by some detractors because of its inherent encryption, Telegram is banned in the brother’s home country of Russia.
When the Russian government recently blocked 18 million IP addresses in the country in hopes of blocking the messaging service, Durov encouraged users to toss the companies signature paper airplanes out of their windows.
source: https://www.newsbtc.com/2018/05/03/telegram-cancels-ico-raising-nearly-2-billion-private-money/
Awesome innovation to be an alternative to VISA/Mastercard in cryptoworld. The public will surely adopt to this project easily cos it can give convenience to all of us. I'll be looking forward for this project to fully function and deliver what bitcoin can't specially in terms of transaction fees and speed.
Will this innovation surpass bitcoin as one of the most valuable coin in the crypto market? Given the fact that Telegram has so many users all over the world and they do have a very awesome marketing strategy.
Telegram Group Inc. announced that it is ending plans for public fund raising since it has raised so much money from private investment. Originally the startup messaging service created by Russian brothers Pavel and Nikolai Durov planned to launch their public ICO for the gram coin in order to fund their Telegram Open Network (TON) but since they took in almost $2 billion in two rounds of private funding the ICO has been scrapped.
As was reported in the Wall Street Journal Telegram’s initial plans were to raise $1.2 billion dollars to build their TON network evenly split between private and public rounds of fundraising. After it raised a reported $850 million in its first round of private investment in February and then matched that number in another private round in March they decided to cancel the public funding round.
An unnamed source told the WSJ that it was because the regulatory environment had changed over that time period. That is the SEC has begun to focus on ICO’s which in this case could bring scrutiny onto company executives. Private fundraising isn’t subject to the same rigorous examination as a public round would be.
Money Will be Used to Expand the TON
Telegram has released a 23-page description of it’s updated plans since their private investment rounds. In it, they describe building out the technology for the TON network as well as further development and maintenance of its main messenger service. In addition the plans mention a “Visa/Mastercard alternative for a new decentralized economy,” to be based on their blockchain network.
Telegram has argued that current cryptocurrencies in the form of Bitcoin and Ether haven’t attracted a mass market due to structural flaws but with their access to such a large user base, they will be able to bring the new technology to a broader market.
Pavel Durov is the well-known face of Telegram who started the Russian equivalent of Facebook, VKontakte, which he sold in 2013 in order to start Telegram. Since then Telegram has gained over 200 million users and some controversy as well. Described as the messaging platform for criminals by some detractors because of its inherent encryption, Telegram is banned in the brother’s home country of Russia.
When the Russian government recently blocked 18 million IP addresses in the country in hopes of blocking the messaging service, Durov encouraged users to toss the companies signature paper airplanes out of their windows.
source: https://www.newsbtc.com/2018/05/03/telegram-cancels-ico-raising-nearly-2-billion-private-money/
Awesome innovation to be an alternative to VISA/Mastercard in cryptoworld. The public will surely adopt to this project easily cos it can give convenience to all of us. I'll be looking forward for this project to fully function and deliver what bitcoin can't specially in terms of transaction fees and speed.
Will this innovation surpass bitcoin as one of the most valuable coin in the crypto market? Given the fact that Telegram has so many users all over the world and they do have a very awesome marketing strategy.
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