Likely able to raise billions in private fund raising, Telegram may not bother with public ICO

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Likely able to raise billions in private fund raising, Telegram may not bother with public ICO

Telegram has already raised $1.7 billion from two private sales andy might cancel its public ICO.

Telegram is a cloud-based instant messaging service. Telegram client apps are available for Android, iOS, Windows Phone, Windows NT, macOS and Linux. Users can send messages and exchange photos, videos, stickers, audio and files of any type.

Telegram was founded by the Russian entrepreneur Pavel Durov. The service also provides APIs to independent developers. In March 2018, Telegram stated that it had 200 million monthly active users.

Telegram would have satisfy more regulations and have increased administrative overhead for a public sale.

* a know-your-customer (KYC) and anti-money laundering verification process to be able to sell to everyday investors
* Telegram would have to have more extensive investor relations

Telegram will be able to raise more money with more private sales. If private sales can raise billions then it may not be necessary to go public.

Uber raised about $23.5 billion through private investors. The last $10 billion round was a down round.

Know-your-customer (KYC) and anti-money laundering (AML) verification

* The US Securities and Exchange Commission (SEC) is preparing to prosecute ICOs which are held without KYC procedures.

* cryptocurrency exchanges are beginning to exclude cryptocurrencies that did not properly implement KYC processes.

Verification and Anti-money laundering

ID Verification: Determine if an identity document (passport, ID card or driver’s license) is authentic and belongs to the user.

Identity Verification: Ensure the person behind a transaction is who they say they are.

Document Verification: Capture, extract, and verify data from supporting documents such as utility and bank statements as an additional layer of identity proofing needed to know the true identity of your investors.

By | 2018-04-13T19:56:25+00:00 April 13th, 2018|Categories: blockchain, exchanges, fintech, ico, world|Tags: , |Comments Off on Likely able to raise billions in private fund raising, Telegram may not bother with public ICO

About the Author:

Brian Wang, MBA and BSc, is a business oriented futurist, speaker and author of emerging and disruptive technologies. Sole author and writer of nextbigfuture.com, a science focused news site that covers disruptive technologies and trends globally in industries including Medicine, Technology, Science, Artificial Intelligence, Robotics, Biotechnology, Nanotechnology, etc. Nextbigfuture is Ranked #1 “Science News Blog” worldwide by Alexa, an Amazon company. Website traffic: 2M page views per month and 4M unique readers annually. Lecturer at Singularity University - provided 4 annual reviews of developments in nanotechnology. Sought after speaker at TEDx (lecture on Energy), University of Toronto (futurism) and Transhuman Visions. Contributor on 10-year plan for the Institute for the Future.