CosmicTaco

Telegram's IPO Plans in Jeopardy as CEO Faces Criminal Charges

CosmicTaco · 2024-08-30T10:41:38.572485+05:30

- 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](https://www.ft.com/content/429f9092-5447-4e4c-b3b6-ffa2bc357ca4)

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