Telegram Reportedly Calls Off ICO Plans After Two Funding Rounds

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Telegram Reportedly Calls Off ICO Plans After Two Funding Rounds

Postby kreslik.news » Tue May 01, 2018 8:11 pm


Telegram Group Inc. has canceled its initial coin offering after the popular messaging app raised a record-setting $1.7 billion from a group of less than 200 private investors, the Wall Street Journal reports.

Telegram has sold its Gram virtual coins in two private funding rounds ‎with proceeds going to create a decentralized network for the app. The second round of fundraising has collected $850 million from 94 accredited investors, who were required to pump a minimum of $1 million, according to a Securities and Exchange Commission filing.

That has doubled the investment funds raised by the first presale ‎offering, which has closed ... (read more)

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