Sunday, April 1, 2018

Telegram has raised a total of $1.7 billion from its two pre-ICO sales

In February, secure messaging service Telegram launched a presale for the its cryptocurency prior to an Initial Coin Offering (ICO), raising $850 million from 81 investors, and later that month, The Verge learned that it was launching a second private presale, in which it aimed to double that amount. Bloomberg Technology reports that the company did just that, and has raised a total of $1.7 billion in March between the two sales.

In a filing to the Securities and Exchanges Commission, Telegram says that it raised an additional $850 million from 94 investors in the second sale, bringing the total amount to $1.7 billion. It also says that it might “pursue one or more subsequent offerings” beyond these first two sales.

The company is...

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