The founder of Telegram, Pavel Durov said that will not give up control over popular app to other investors. Telegram Group Inc., most likely, will refuse public phase of the ICO network TON after the popular app for messaging attracted a record $ 1.7 billion from a group of less than 200 private investors, according to The Wall Street Journal.

Telegram sold its virtual coins Gram in two private rounds of funding, the proceeds of which will be aimed at creating a decentralized network applications. A second round of fundraising raised $850 million from 94 accredited investors, who had to Deposit a minimum of $1 million, according to the application filed with the Commission on securities and stock exchanges.

This doubled the investment of funds raised in February at the first pre-sale offers, which attracted a similar amount to 850 million from 81 investors.

Now it is reported that a third, open stage of collecting funds is not expected, because the collected amount is quite enough for development of the project. According to previous estimates, the service encrypted communications previously thought to $2.55 billion in three rounds of funding.

Durov plans to use the proceeds from the ICO funds to build a blockchain network, called “Telegram Open Network (TON)”, which will allow users to pay with cryptocurrency Gram. The Russian businessman has declared that will not refuse control Telegram in favor of other investors, and structure of the ICO allows it to raise funds while maintaining control.

According to rough estimates made by the command Telegram, by 2021 the number of users of the service will increase to 675 million Respectively, and increase the costs of operation of the messenger, who for the next 4 years will be approximately $620 million

Earlier, on 30 April, the Iranian government blocked Telegram, accusing the messenger of organizing mass riots followed this decision for the Russian government adopted a similar decision after the failure of culture to give the keys to deciphering the plot.