Pump.fun Eyes $1 Billion Token Sale at $4 Billion Valuation, Sources Report

Blockworks reports that Pump.fun, the Solana-based memecoin launchpad, is planning to raise $1 billion via a token sale, according to multiple sources familiar with the matter. The plan reportedly targets a $4 billion token valuation, sources tell Blockworks.

The proposed sale intends to involve both public and private investors, two sources confirmed. While Blockworks couldn’t immediately verify the timeline or specific blockchain for the token launch, an X post hints the offering could commence within the next two weeks.

With a potential $4 billion valuation, Pump.fun stands to join the ranks of tech startups valued at over $1 billion, becoming crypto’s latest unicorn just one year after playing a pivotal role in sparking a memecoin boom.

Pump.fun declined to immediately respond to multiple requests for comment.

Launched in early 2024, the platform has rapidly gained prominence. Blockworks Research data indicates revenue exceeding $700 million since its inception, showcasing its significant user base.

To date, users on the platform have created nearly 11 million distinct tokens, contributing to the platform’s current cumulative market capitalization of approximately $4.5 billion, sources noted.

In response to increased competition, Pump.fun recently made notable updates. The platform launched an Automated Market Maker (AMM) feature, breaking its implicit reliance on the Raydium exchange, and also unpaused its live streaming functionality which had faced moderation challenges earlier.

Additionally, the platform recently debuted its mobile application, expanding its reach beyond web-based users.