Telegram’s two pre-ICO Sales raised $1.7 billion in Total


Telegram’s two pre-ICO Sales raised

It seems cryptocurrencies or the ideas behind them are ruling over the tech world! And indeed companies are getting richer! Way back in February, Telegram, a secure messaging service raised some $850 million from 81 investors through a presale for its cryptocurrency. This was before coming up with its Initial Coin Offering (ICO). And then later it also launched its second private presale which was solely aimed at doubling the amount that it had raised earlier.

According to a report by Bloomberg Technology, the company was able to make a total raise of about $1.7 billion between both the sales. However, it was in the month of March. The company now seems to get into some more groovy ideas for raising more money.

As of more recent, the company announced that it raised an additional amount of $850 million from 94 investors through its second sale which made they turned their total collection to $1.7 billion. This information came into limelight when Telegram filed to the Securities and Exchanges Commission. The company also suggested more possibilities for it to “pursue one or more subsequent offerings” other than these two sales that it came up within the last two months.

Cryptocurrency like ecosystems is getting really popular as the company is now all set to launch something similar to Ethereum like an ecosystem and will offer apps, services and even a store both for digital and physical goods. The company will name it Telegram Open Network or TON as it wrote in its filing. Furthermore, the filing suggests that the company also has plans for funding its own future development using the proceeds that ICO would bring to it.

Maybe the company also plans a third presale, one may never know! However, as of now, the company has really raised a great amount from its two pre-sales.