Home Business Telegram Raises $330 Million Through Bond Sales, Eyes Profitability and Potential IPO
BusinessFinanceTechnology

Telegram Raises $330 Million Through Bond Sales, Eyes Profitability and Potential IPO

227

Telegram founder and CEO Pavel Durov announced today on his channel that the company successfully raised $330 million in investment through bond sales last week. Durov revealed that the offering was oversubscribed, with favourable terms for the company.

While Durov did not disclose the names of the institutions that invested in the platform, he emphasised that global financial institutions recognise the company’s growth potential.

In an interview with the Financial Times last week, Durov expressed the company’s aim to achieve profitability next year and mentioned the possibility of going public. He highlighted the importance of monetisation in maintaining the company’s independence and indicated that an IPO could democratise access to Telegram’s value.

Sources familiar with the deal revealed to TechCrunch that the bonds’ current yield is 7.7%. Their maturity is set for 2026 or upon Telegram’s public listing, whichever comes first. The bonds were issued at $91, up from $78 of the previous issue.

With over 900 million users, the Dubai-headquartered chat app issued $210 million worth of bonds last year. Telegram has recently introduced various revenue-generating initiatives, including ads, username sales on the blockchain, and premium subscriptions. Additionally, the company recently announced the option for personal users to convert their accounts to business accounts by paying a subscription fee.

Read: Tyla’s Upcoming Album to Feature Global Music Stars

About The Author

Related Articles

BusinessNews

Shares of Australian Mining Company Fall 32% After Mali Detains CEO and Two Executives on Corruption Charges

Shares of Resolute Mining, an Australian gold mining company, dropped by 32...

B2Gold Mali Mining Tax
BusinessNews

Canadian Mining Company B2Gold Pays Mali $30 Million To Settle Mining Tax Dispute

The Canadian mining company B2Gold has paid the Malian government $30 million...

Mali Australian Mining Company
BusinessNews

Mali Detains 3 Executives From Australian Gold Mining Firm

Three foreign executives from the Australian mining company Resolute, which operates a...

Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization
FinanceNews

Okonjo-Iweala Set to Secure Second Term as WTO Director-General

Nigeria’s Ngozi Okonjo-Iweala, the Director-General of the World Trade Organisation, is set...