Business
TMT Participation in Telegram Group, Inc. Pre-ICO
TMT Participation in Telegram Group, Inc. Pre-ICO.
About this update from Tmt Investments Plc
[{"type":"text","content":"\n \nRNS Number : 4437F TMT Investments PLC 21 February 2018 \n\n \n21 February 2018\nTMT INVESTMENTS PLC\n(\"TMT\" or the \"Company\")\n \nTMT Participation in Telegram Group, Inc. Pre-ICO\n \nTMT Investments PLC (AIM: TMT.L), the venture capital company investing in high-growth technology companies across a number of core specialist sectors, is pleased to confirm its first blockchain related investment through participation in the recent pre-ICO (initial coin offering) conducted by Telegram Group, Inc. (\"Telegram\"). Telegram is an established global messaging platform with over 200 million users around the world https://telegram.org \n \nThe recent pre sale of Telegram's tokens raised US$850m in fiat currency (the \"Telegram pre-ICO\") according to a filing submitted by Telegram to the US Securities and Exchange Commission (\"SEC\") on 13 February 2018. The Telegram pre-ICO was offered exclusively to a circle of investors selected by Telegram. TMT believes that demand for the Telegram pre-ICO was driven by the fact that Telegram is a well-established global messaging platform rather than a startup ICO issuer. \n \nThe funds have been raised for the development of the Telegram Open Network (or TON Blockchain), the development and maintenance of Telegram Messenger and the other purposes according to the SEC filed document.\n \nAlexander Selegenev, Executive Director of TMT, commented: \"We are delighted to have gained early access to this pre-ICO offering, which is also our first blockchain investment. Our investment focus at TMT is on identifying truly scalable companies at an early stage that have outstanding management teams. We believe that the Telegram pre-ICO meets all three of these requirements and provides our shareholders access to this opportunity through publicly traded TMT, and ahead of any general public ICO which Telegram may pursue later in the year\".\n \nAlexander Selegenev added: \"The Telegram pre-ICO is a welcome addition to our diversified portfolio, which includes ride-hailing service Taxify https://taxify.eu/, B2B sales management software Pipedrive https://www.pipedrive.com/en-gb and perfume and cosmetics online subscription retailer Scentbird https://www.scentbird.com/\".\n \nTMT's investment in the Telegram pre-ICO was made from the Company's existin...