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On December 23rd, 2020, Pavel Durov posted to his channel that the company would need to start generating revenue. In early 2021, he added that any advertising on the platform would not use user data for targeting, and that it would be focused on βlarge one-to-many channels.β He pledged that ads would be βnon-intrusiveβ and that most users would simply not notice any change. Oleksandra Matviichuk, a Kyiv-based lawyer and head of the Center for Civil Liberties, called Durovβs position "very weak," and urged concrete improvements. The next bit isnβt clear, but Durov reportedly claimed that his resignation, dated March 21st, was an April Foolsβ prank. TechCrunch implies that it was a matter of principle, but itβs hard to be clear on the wheres, whos and whys. Similarly, on April 17th, the Moscow Times quoted Durov as saying that he quit the company after being pressured to reveal account details about Ukrainians protesting the then-president Viktor Yanukovych. Under the Sebi Act, the regulator has the power to carry out search and seizure of books, registers, documents including electronics and digital devices from any person associated with the securities market. The regulator said it has been undertaking several campaigns to educate the investors to be vigilant while taking investment decisions based on stock tips.
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