At the start of 2018, the company attempted to launch an Initial Coin Offering (ICO) which would enable it to enable payments (and earn the cash that comes from doing so). The initial signals were promising, especially given Telegramβs user base is already fairly crypto-savvy. It raised an initial tranche of cash β worth more than a billion dollars β to help develop the coin before opening sales to the public. Unfortunately, third-party sales of coins bought in those initial fundraising rounds raised the ire of the SEC, which brought the hammer down on the whole operation. In 2020, officials ordered Telegram to pay a fine of $18.5 million and hand back much of the cash that it had raised. The channel appears to be part of the broader information war that has developed following Russia's invasion of Ukraine. The Kremlin has paid Russian TikTok influencers to push propaganda, according to a Vice News investigation, while ProPublica found that fake Russian fact check videos had been viewed over a million times on Telegram. "This time we received the coordinates of enemy vehicles marked 'V' in Kyiv region," it added. Telegram was co-founded by Pavel and Nikolai Durov, the brothers who had previously created VKontakte. VK is Russiaβs equivalent of Facebook, a social network used for public and private messaging, audio and video sharing as well as online gaming. In January, SimpleWeb reported that VK was Russiaβs fourth most-visited website, after Yandex, YouTube and Googleβs Russian-language homepage. In 2016, Forbesβ Michael Solomon described Pavel Durov (pictured, below) as the βMark Zuckerberg of Russia.β 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.
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