CosmicTaco
Telegram's IPO Plans in Jeopardy as CEO Faces Criminal Charges
- Pavel Durov, Telegram CEO, faces criminal charges in France over app's alleged failure to address criminality
- Telegram's bonds plummet, trading at 87 cents on the dollar with 16% yield following Durov's arrest
- Company's 2023 financials show $342mn revenue, $108mn operating loss, and $173mn total losses after tax
- Toncoin, cryptocurrency associated with Telegram, down nearly 20% after news of Durov's arrest
- Concerns arise over Telegram's future operations and leadership with Durov's central role in decision-making
Source: Financial Times
3mo ago
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