Pavel Durov, the founder and Chief Executive Officer (CEO) of Telegram announced on his channel that the company successfully raised $330 million in investment through bond sales last week.
Mr Durov expressed satisfaction with the oversubscribed offering, highlighting favorable terms for Telegram.
While Durov didn’t disclose the names of the investing institutions, he emphasized that renowned global financial entities recognize and support Telegram’s growth trajectory.
“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,” TechCrunch reported.
In a recent interview with the Financial Times, Mr Durov disclosed Telegram’s aspiration to achieve profitability next year and explore the possibility of going public.
According to reports, the bonds carry a current yield of 7.7% and have a maturity date set for either 2026 or upon Telegram’s public listing, whichever comes first. These bonds were issued at a price of $91, marking an increase from the previous issue’s $78 price.
With over 900 million users, Telegram issued $210 million worth of bonds last year. Based in Dubai, the company has diversified its revenue streams over the years, incorporating methods like ads, blockchain-based username sales, and premium subscriptions.
