MOSCOW, March 11 The founder of the Telegram messenger Pavel Durov said in an interview with the Financial Times that he plans to bring the social network to an initial public offering (IPO), although investors offered to buy his company for $30 billion.
“According to Durov, investors have offered a valuation of $30 billion for the company from potential investors, but he has ruled out the possibility of selling the platform while he explores options for its IPO,” the newspaper writes.
«»The main reason we started monetizing is that we wanted to remain independent. Generally speaking, we see the value of the IPO as a means of democratizing access to Telegram's value,» he told the newspaper.
Telegram will likely seek a US listing once the company reaches profitability and market conditions become favorable, the newspaper's sources said. Durov declined to comment on the timing and possible location of the IPO, but said Telegram had explored several options.
Durov also added that during the IPO Telegram will consider the possibility of selling shares to loyal users.