📊Telegram Raises $1.7 Billion:
On its path to IPO and Blockchain Super App
Telegram, the messaging app trusted by over a billion users worldwide, has
completed one of its largest funding rounds ever — issuing convertible bonds worth $1.7 billion.
These funds will fuel:
- the expansion of TON, Telegram’s blockchain ecosystem
- scaling the ad platform and premium features
- building collaborative tools for teams (similar to Slack, Miro, or Notion)
- preparing for a public stock offering (IPO)
This is a move away from the infamous ICO of Gram token, which was halted in 2020 after an SEC lawsuit. Back then, Telegram refunded $1.2 billion to investors. This time, Durov opted for a more conservative route: convertible debt with a 20% premium on future stock prices, giving investors exposure to IPO gains without directly selling tokens.
The bonds have a 7-year maturity, with a fixed yield of reportedly 5–7%, and will be repaid in 2032, unless converted into shares.
"After the SEC banned ICOs, issuing convertible bonds is a smart move. It signals regulatory compliance without diluting investor stakes ahead of the IPO."
— Alex Martin, Senior Counsel at crypto fund Chainbridge Legal
Who is the main beneficiary of this capital? TON. Starting from its deeper integration in 2023, TON has become the platform for:
- in-app Telegram payments
- decentralized apps (dApps)
- crypto gifts, NFTs, and games
- user/creator reward systems
Telegram has already connected over 30 million TON wallets, and the network's market cap peaked at $45 billion — currently around $7.64 billion. This makes Telegram the largest Web3 provider among messengers.
"Raising $1.7B isn’t about survival - it’s a move toward total dominance in blockchain communications and Web3 super apps."
— Matthew Lang, Web3 analyst at TechFi and author of “Messaging & Monetization in Web3”».
In private presentations, Telegram has showed previews of team collaboration tools, including:
- project management
- visual boards (like Miro)
- task systems and collaborative editing
These will be part of the Telegram Mini Apps ecosystem, and therefore, TON. The goal is to gether everything in one app: chat, business management, payments, and Web3.
Analysts estimate Telegram’s annual costs at $400–500 million: servers, software development, regulatory compliance, and scaling. This provides a 3–4 year runway, suggesting an IPO could happen in 2028, when it's expected to reach the goal of 500 million TON blockchain users.
Key monetization sources ahead:
- Telegram Premium
- TgAds inside Telegram Mini Apps
- Business tools and APIs
- TON-based services: ads, games, NFTs, decentralized finance
This bond issuance positions Telegram as a hybrid company connecting Web2 and Web3. If TON continues to grow, Telegram won’t just thrive - it will define a new standard for digital platforms: with its own economy, transparent monetization, and freedom from Big Tech.
Still, let's keep in mind that Telegram must prove its model works, outmaneuver competition both among blockchains and messaging platforms, and avoid repeating past mistakes on its road to IPO.
Your strategic
@TonPost
