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.
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