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Telegram’s ICO Token Is Finally Open for Public Sale

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Telegram, the famous and most secured chat app, will be organising a sale for its crypto token, ‘Gram’, open for its retail investors through a limited listing. The sale will be carried out prior to a full public sale to be hosted by the company in coming October, starting from July 10.

gram token from telegram
Image Source: news.bitcoin.com

Telegram has previously hosted a massive token sale in the month of February and March in 2018, where it raised a record-high $1.7 billion, despite the sale being limited only to accredited investors. It was the biggest fundraiser organised by a crypto token offering. The fundraiser was to support the development of the Telegram Open Network (TON), a blockchain project that was targetted to decentralise the operations, including file sharing, carried out through digital communication on Telegram.

The sale will go live on the crypto exchange Liquid and is a limited offering. According to the Gram sale page on Liquid’s website, the sale is open globally, except for nations, including the U.S., Korea and Japan, due to some security issues. Though the investors can buy the tokens in exchange for the U.S. dollars or the USDC stable coin.

The website also states that the sold tokens won’t be tradeable as soon they are sold. “The tokens being sold will not be released until after TON goes live (mainnet release), in accordance with the delivery schedule. Purchasers will not be able to transfer, withdraw, or trade the Grams before they are released.” says the gram sale page on the Liquid website.

Telegram has not revealed on the cost and the number of the tokens to be sold. But it has revealed that it will disclose the number of tokens held by Gram Asia. Gram Asia is a Korea based organization, which claims to hold the biggest share of the Gram tokens in Asia.

The company has not commented on the news yet, and an unofficial TON channel has requested the investors to wait for the piece of official information from Telegram.

Instagram is Killing its Standalone Messaging App ‘Direct’ Only After Two years of its Inception

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instagram direct app
Image Source: marketingland.com

Facebook is going forward on the way to integrating most of its apps, and after its announcement of bringing chat back to the Facebook app, the company is now planning to kill the Instagram’s standalone Direct app.

Instagram revealed that by the next month, it will pull off the support for its direct messaging app. But the Instagrammers doesn’t have to worry about their messages, as the platform will migrate all the messages from the Direct app to the Instagram app DMs.

With the launch of Direct app in 2017, Facebook and Instagram both were up to adding new features and making it a standalone messaging app to stand against rivals like Snapchat. Similar to the Snapchat app, the Direct app opens with a camera. In fact, after logging in to the Direct app, the DM feature also disappears from the Instagram app.

But as a step of Facebook in the way of consolidating all its major apps, now Direct will have to face a young death. Instead, all the features it possesses will be merged into the DM feature of Instagram.

The company has already stopped providing updates to both the versions of the app. The latest update that the Android app had received was in April, whereas the iOS app had received the latest update in December last year.

The users have been receiving messages from the company about the closure of the app, upon which, a Direct user Matt Navarra, posted a tweet in a thread, saying, “Confirmed: Instagram is killing its standalone Direct Messaging app.” Upon which Instagram also posted a tweet, “Your conversations will automatically move over to Instagram, so you don’t need to do anything.”

Shutting down the Direct app might not be a big deal for either company as the app has failed in gaining as many users as Instagram has. In fact, the Instagram app’s DM feature has been a source of business promotion for many, and it is way more popular than Direct app despite having lesser features than the Direct app.

Slack Reportedly Chooses NYSE Over NASDAQ for its Direct Listing

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Last year in December, Slack announced that it is prepping for its IPO in 2019 and had hired Goldman Sachs as its Lead Underwriter. Now, according to the reports from Wall Street Journal, the company following the path of Spotify, has selected the New York Stock Exchange (NYSE) instead of the NASDAQ for the direct listing of its shares.

slack
Image Slack: fubiz.net

Slack has earned enough value being private, and reportedly, it had $900 million in cash on hand last year. So, similar to Spotify, it is not, specifically, the money for which the company is going public, and hence it has selected the direct listing over the IPO.

Direct listing is a bit different from the IPO, as the companies who file for IPO are looking for more financial support for their growth. In the direct listing, most of the times, the shares are not backed up by any financial institution, and the shareholders like the investors, promoters or the employees can directly sell their shares.

Last year, Spotify also chose NYSE for its direct listing, and now the valuation of the company is $25 billion up. Also, companies like Uber and Pinterest have also selected NYSE for their IPO, this year. Last Friday, Lyft went public on NASDAQ, and reportedly, its price shed over 10 per cent in the morning trading.

The office-messaging platform has been a member of the Unicorn Club for a long time now, and the direct listing of the company will be a financial boost for its investors. The company is still in talks with the Securities and Exchange Commission and has submitted the draft registration statement on Form S-1, last month.

The company, currently, is serving over 10 million daily users across the globe including the 85,000 paid subscribers. It is one of the most valued and successful companies in Silicon Valley, and its direct listing may set a higher bar for the other SaaS companies. For now, Slack has not made any comments on the matter. But, according to the WSJ, the listing may occur in the month of June or July this year.

Slack Prepping for its IPO in 2019; Hired Goldman Sachs as its Lead Underwriter

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Slack, the business chat and direct message provider company, has announced that it is going to become public in the coming year, and has hired investment bank Goldman Sachs as the lead underwriter for its highly anticipated IPO.

In September this year, there were already reports making rounds about the company preparing for its debut in the stock market in the early quarter of 2019, with an expected valuation of the company well in excess of the $7.1 billion.

Slack
Image Source: mybroadband.co

The company had reported a total of 8 million daily active users in August this year, that is double the number of users it had in the summer last year. In the same month, the company had a funding round of $427 million, led by Dragoneer Investment Group and General Atlantic. The company’s major investors include SoftBank Group’s Vision Fund, Dragoneer Investment Group, General Atlantic, T. Rowe Price Associates, Wellington Management, Baillie Gifford, and Sands Capital, etc.

Slack, which is based in San Francisco and Vancouver, is one of the Silicon Valley companies valued over $1 billion, which is now hoping to fetch a valuation of over $10 billion in its IPO. Slack is one of the business messaging service provider, that is in a competitive race with Microsoft’s Teams, Alphabet’s Google Hangouts Chat and Cisco’s Webex Teams and its users are increasing by a rapid rate.

Last month, Slack’s co-founder and CEO, Stewart Butterfield told Fortune, “The company had no specific timeline for an IPO. We’ve been on a path to public company readiness for several years now, and we’re continuing on that path.”

2018, had a total of 188 companies went public on the U.S. exchanges, more than the number of companies last year, including 40 tech companies like Dropbox, Zuora, Uber, Lyft, and DocuSign. Other companies that are also planning for their IPO include Airbnb, Lyft, Uber, Palantir and Stripe, etc. Among which, Lyft already filed paperwork with the Securities and Exchange Commission, on Thursday, for its planned IPO ahead of other companies.

Google Shutting Down Allo; Now will Experiment with Rich Communication Services

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A few days ago, the news regarding the shutting down of Google Hangouts was circulating all over the internet, that later Google had denied completely. Now, again there is news that Google will soon shut down its two years old messaging app Allo.

allo
Image source: arstechnica.net

Allo is a Google Assistant empowered app, that was launched as a competitor for Apple’s iMessage, Facebook Messenger, WhatsApp and other chat applications. The device is built for both Android and iOS devices, enabled with end-to-end encryption. Google had launched Allo two years ago, as its another messaging app experiment, that too failed.

The vice president of Chrome, Comms, and Photos (at Google), Anil Sabharwal, said in a statement, “Google noted that Allo as a whole has not achieved the level of traction we’d hoped for.”

The app was facing some problems with its functionalities, so in April month this year, Google stopped investing over Allo and put a pause on its development and marketing work. The company now is entirely focusing on the Android Messages instead, and the Allo team has also been implanted to work on the same.

On the other hand, Verizon has come with its new messaging app RCS (Rich Communication Services), a combination of the best features of Facebook Messenger, iMessage, and WhatsApp, as one platform. Verizon has initially launched the app on the Pixel 3 and Pixel 3 XL. The company is planning to replace the ages-old SMS (Short Message Service) by its new RCS app. Google has worked hard to get its own android chat, but it seems that now it is going to work with its competitor’s app, i.e. RCS.

And for Allo, it is already down for many users and will be discontinued by the March month next year.

Ezetap CEO Abhijit Bose Appointed as the WhatsApp India Head

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WhatsApp is planning to expand its business outside the U.S. and has appointed Abhijit Bose, co-founder and CEO of payment device maker Ezetap, as the head of WhatsApp India, in order to build a bigger team outside California. Facebook-owned WhatsApp confirmed the news on Wednesday and said that Bose will join WhatsApp in early 2019, and will be based in Gurugram. The main operation of Bose will be to constitute a team that will work towards curbing the spread of fake messages.

abhijitbose
Image Source: livemint.com

The Indian government had been putting pressure on the company to take some actions against the spreading of fake news in India, through the WhatsApp messaging app. Less than a month ago, the vice-president of WhatsApp, Chris Daniels, and the IT minister Ravi Shankar Prasad had a meeting, where Danial had discussed regarding the team he had constituted in India, that will start functioning soon against the spread of the fake news. Around two months ago, WhatsApp had also appointed Komal Lahiri as its first Grievance Officer for India.

Matt Idema, the chief operating officer of WhatsApp said, “WhatsApp (the company) is deeply committed to India and is excited to keep building products that help people connect and support India’s fast-growing digital economy. As a successful entrepreneur himself, Abhijit knows what it takes to build meaningful partnerships that can serve businesses across India.” Bose with his team will also help the companies of small to large scale with easy communication with their customers. The company is also focussed on creating and introducing new products for the Indian public.

“WhatsApp is special and can be a major partner for financial inclusion and economic growth in India. It’s not only how so many families stay in touch, but increasingly it’s how businesses are engaging with their customers. WhatsApp can positively impact the lives of hundreds of millions of Indians, allowing them to actively engage and benefit from the new digital economy,” said Bose.

Bose has been responsibly operating a huge business from past seven years, and he knows the technicalities of how to handle a big team. Appointing him as India’s head, WhatsApp has taken the first step to sustain its presence in India, as it was slammed by two notices from the Indian government for not taking any actions against the fake news spreading on WhatsApp. The second notice even stated that if WhatsApp will not put adequate checks in place, the govt will consider the messaging app as the supporter of rumour distribution and legal consequences will follow against the company.