Telegram secures $330 million in new funding via bond offerings

Today, Pavel Durov, the founder and CEO of Telegram, announced on his channel that the company had secured $330 million through bond sales the previous week. Durov noted that the offering attracted more investors than anticipated and featured favorable terms for Telegram.

He expressed satisfaction with the participation of prestigious global funds but refrained from disclosing specific institutions. Durov emphasized that these investors recognize and appreciate Telegram's growth trajectory.

In a recent interview with the Financial Times, Durov outlined the company's goal of achieving profitability next year and hinted at the possibility of an IPO. He underscored the motivation behind monetization efforts as maintaining the company's independence and acknowledged the potential value of going public in democratizing access to Telegram's value.

Durov explained to the Financial Times that the primary motivation for initiating monetization efforts was to preserve Telegram's independence. He broadly views an IPO as a way to make Telegram's value accessible to a wider audience, thus democratizing its ownership.

According to insiders cited by TechCrunch, the current yield of the bonds stands at 7.7%. The bonds will mature either in 2026 or upon Telegram's initial public offering, whichever occurs earlier. These bonds were issued at a price of $91, up from the previous issuance price of $78. 

Last year, the messaging app, boasting over 900 million users, issued bonds worth $210 million. Based in Dubai, the company has diversified its revenue streams in recent years, including advertising, blockchain-based username sales, and premium subscriptions. Recently, Telegram introduced a subscription fee for personal users to convert their accounts into business accounts.