After cryptocurrency was first launched in 2009, there appeared a new way to attract investments. This was called initial coin offering. ICO is opened to public. It collects little and large investments to give a push to business ideas.
One of the most successful ICOs in history was Telegram. Today, it is a well-known company. Many years before, Pavel Durov asked public to invest into the project to make it grow, and now the messenger is really popular.
Telegram As Initial Coin Offering Project
Telegram proves that ICO projects can be very successful. Pavel Durov needed some 850 million dollars to make a Telegram work. The sum was gathered quite quickly.
Here is a presentation of how Telegram project started to grow:
- Pavel Durov draw an idea for his start-up. His mission was to facilitate communication between the public. Telegram also offered unique security measures. Today, Telegram is one of those platforms that offers secret chats.
- He opened initial coin offering. ICO is a unique way of investment. It operates fully virtually. People do not invest real money in ICO. They invest tokens that are later on monetized.
- People started to make different scale investments into a project. Very soon, Durov gathered enough funds for Telegram to be launched and operate efficiently.
- Investors got their shares in a company.
Today, Telegram grew to a global company. It operates successfully and doesn’t require other public investments.
Why The Company Gets Much Critics About Its ICO
Lately, a company got much critics from publics. CEO decided that Telegram will not attract any more public initial coin offering. This move cut a possibility of many people to get their shares in the company.
As long as the company emerged thanks to ICO, general public criticises its management. Denial of acceptance of new ICOs made people sceptic about it activity. They say a firm does not follow its Corporate Social Responsibility. However, the project is extremely successful, more and more people use it due to its convenience and security, and therefore the percent of people who are not happy with the company’s policy, will not influence its reputation.