Cryptocurrencies
Telegram Triples Price in Largest Initial Coin Offering
- Pavel Durov’s firm selling virtual coins for messenger service
- Second stage of Telegram may reach $850 Million, investors say
Photographer: Carl Court/Getty Images
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Telegram Group Inc., an encrypted-messaging service that just raised $850 million from selling rights to virtual coins, is tripling the price in its next funding round, according to people familiar with the matter.
The Telegram tokens it’s developing for users, called Grams, are being offered at $1.33 each in the new round that may close in early March, said two potential investors who declined to be identified, citing confidentiality agreement with the company. This compares with about $0.37 price in the previous round aimed at larger investors.