Pump.fun plans $1B token sale at $4B valuation: Sources

Pump.fun plans to raise $1 billion via a token sale, two sources with knowledge of the matter told Blockworks.

Three sources said the sale would come at a $4 billion token valuation.

The token will be sold to both public and private investors, sources added. Blockworks could not immediately confirm when the token is set to go live or whether it will be issued on the pump.fun platform. However, a post on X teased that it could come in the next two weeks.

The potential $4 billion token valuation would mint pump.fun as crypto’s latest unicorn startup after a year in which it helped ignite a memecoin frenzy.

Pump.fun did not immediately return multiple requests for comment.

Pump.fun — a memecoin launchpad that allows anyone to spin up their own Solana token instantly and for free — was a breakout hit with crypto users after launching in early 2024. The app has already generated over $700 million in cumulative revenue, according to Blockworks Research data.

Users on the platform have minted nearly 11 million new tokens with a current cumulative market cap of roughly $4.5 billion.

As competition heats up among token launchpads, pump.fun has made some updates to its core business — most notably when it launched an AMM that ended its unofficial partnership with Raydium.

Pump.fun also recently launched a mobile app and re-released a live streaming feature it had temporarily suspended after content moderation complaints late last year.

Get the news in your inbox. Explore Blockworks newsletters:

The Breakdown: Decoding crypto and the markets. Daily.
Empire: Crypto news and analysis to start your day.
Forward Guidance: The intersection of crypto, macro and policy.
0xResearch: Alpha directly in your inbox.
Lightspeed: All things Solana.
The Drop: Apps, games, memes and more.
Supply Shock: Bitcoin, bitcoin, bitcoin.