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What Year Did Gram Open Their IPO?
Gram is a popular messaging app that was first launched in 2018. It quickly gained popularity for its focus on privacy and security, making it a preferred choice for many users around the world. As a result of its success, there has been much speculation about when Gram opened their initial public offering (IPO) to the public. In this article, we will delve into the details surrounding Gram’s IPO and provide answers to frequently asked questions.
Gram’s IPO, which was highly anticipated by investors and users alike, took place in the year 2019. The messaging app’s parent company, Telegram, aimed to raise funds through the sale of Gram tokens to fuel further development and expansion of the platform. Telegram set an ambitious target of raising $1.7 billion through its ICO (Initial Coin Offering), making it one of the largest ICOs in history.
However, the road to Gram’s IPO was not without obstacles. The Securities and Exchange Commission (SEC) raised concerns about the legality of Telegram’s ICO, claiming that the sale of Gram tokens constituted the sale of unregistered securities. This led to a legal battle between Telegram and the SEC, resulting in delays and uncertainty surrounding the IPO.
Ultimately, in March 2020, Telegram announced the cancellation of its ICO, citing ongoing legal challenges as the primary reason. The company reached a settlement with the SEC, agreeing to return $1.2 billion to investors and pay an $18.5 million civil penalty. This marked the end of Gram’s IPO, leaving many investors disappointed and the future of the messaging app uncertain.
FAQs:
Q: Why did Gram cancel their IPO?
A: Gram cancelled their IPO due to ongoing legal challenges with the SEC. The SEC raised concerns about the legality of the ICO, claiming that the sale of Gram tokens constituted the sale of unregistered securities.
Q: How much money was Telegram aiming to raise through its ICO?
A: Telegram aimed to raise $1.7 billion through its ICO, making it one of the largest ICOs in history.
Q: Did Telegram reach a settlement with the SEC?
A: Yes, Telegram reached a settlement with the SEC. As part of the settlement, Telegram agreed to return $1.2 billion to investors and pay an $18.5 million civil penalty.
Q: What does the cancellation of the ICO mean for the future of Gram?
A: The cancellation of the ICO has left the future of Gram uncertain. Without the funds raised through the IPO, it remains to be seen how Telegram will finance the further development and expansion of the messaging app.
Q: Is Gram still available for use?
A: Yes, Gram is still available for use. However, the cancellation of the ICO raises questions about the app’s future updates and features.
In conclusion, Gram’s IPO was initially scheduled for the year 2019 but was ultimately cancelled due to legal challenges with the SEC. The cancellation left many investors disappointed and the future of the messaging app uncertain. While Gram is still available for use, it remains to be seen how Telegram will finance its further development and expansion without the funds raised through the IPO.
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