Telegram raises $330M fresh capital through bond sales

Telegram founder Pavel Durov announced on his channel that the company successfully secured $330 million in investment through bond sales last week. Durov highlighted that the offering was oversubscribed, with favorable terms for Telegram.

While Durov did not disclose the institutions involved in the investment, he mentioned that global financial institutions value Telegram’s growth trajectory. He also stated that the terms of the bonds were the most favorable in the company’s history, particularly when adjusted for the Federal Reserve rate.

In an interview with the Financial Times, Durov expressed Telegram’s goal of achieving profitability next year and hinted at the company’s exploration of going public. He emphasized the importance of monetization to maintain Telegram’s independence and highlighted the potential benefits of an IPO in democratizing access to the company’s value.

Sources familiar with the deal revealed that the current yield of the bonds stands at 7.7%, with maturity set for either 2026 or upon Telegram’s public listing, whichever comes earlier. The bonds were issued at a price of $91, up from $78 in the previous issue.

With over 900 million users, Telegram has been diversifying its revenue streams, including through ads, blockchain-based username sales, premium subscriptions, and recently introduced business account subscriptions for personal users.