Telegram Reportedly Attracted 4 Times More Funds at Pre-ICO Stage

January 22, 2018

Telegram Reportedly Attracted 4 Times More Funds at Pre-ICO Stage

Messaging service Telegram has reportedly finished receiving applications for the participation in its forthcoming ICO. Russian news agency Vedomosti claims that Telegram attracted $3.8 billion, which is 4 times more than $850 million that the company was originally seeking to raise. 

This ICO caused a stir with investors. Those who fail to invest in the ICO at this stage plan to repurchase stakes from more lucky investors. It is reported that prices on secondary market are 30-40% more, and it is believed that token price might soar up to $3.5. Earlier it was reported that the price of Gram token might be $1.2.

All approved by the organizers pre-ICO investments will be collected by the end of January. These funds will be aimed at the development of Telegram Open Network platform. 

It is worthy to note that yesterday Telegram CEO Pavel Durov mentioned Gram token in his tweet, which is considered as the confirmation of existence of this project, which has not been officially announced yet.

Earlier this month details of the Telegram has leaked. It is believed that this ICO will be the largest one in history. 

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