Telegram Raises $330M Fresh Capital Through Bond Sales – Pavel Durov, the founder and CEO of Telegram, announced on his channel that the company successfully raised $330 million in investment via bond sales last week. Durov mentioned that the offering was oversubscribed, with advantageous terms for the company.
“This bond offering was oversubscribed, and we were delighted to have global funds of the highest caliber with impeccable reputations as participants. The terms of the bonds (when adjusted for the Federal Reserve rate) were the most favorable for Telegram in the history of our company,” he said on his channel.
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Although he refrained from specifying the institutions that invested in the platform, Pavel Durov stated that global financial entities recognize the company’s growth. In a recent interview with the Financial Times, Durov outlined the company’s goal to achieve profitability next year. Additionally, he indicated that Telegram is considering the possibility of going public.
“The main reason why we started to monetize is because we wanted to remain independent. Generally speaking, we see value in [an IPO] as a means to democratize access to Telegram’s value,” he told FT. Insiders familiar with the agreement informed a news outlet that the bonds currently yield 7.7%.
The maturity date for these bonds is either 2026 or upon Telegram’s initial public offering, whichever comes first. These bonds were issued at a price of $91, an increase from the previous issue’s $78. Last year, the messaging application, boasting over 900 million users, issued bonds totaling $210 million.
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The company, based in Dubai, has implemented various revenue-generating strategies in recent years, such as advertising, blockchain-based username sales, and premium subscriptions. Earlier this month, the company unveiled a new feature allowing personal users to convert their accounts into business accounts by paying a subscription fee.
