Home » Telegram reportedly raises $330 million through bond sales

Telegram reportedly raises $330 million through bond sales

Telegram has more than 900 million users worldwide, issued bonds worth $210 million last year.

By Startup Funding News
Telegram reportedly raises $330 million through bond sales.

Telegram, a global popular messaging app, has reportedly raised $330 million through bond sales.

The bond offering was oversubscribed and the terms of the bond were favorable for the company, founder and CEO Pavel Durov wrote on his own Telegram channel.

“The increased demand for our bonds shows that global financial institutions value Telegram’s growth in audience and monetization,” Pavel Durov wrote.

In an interview with the Financial Times last week, Durov said Telegram is “hoping to become profitable next year” as it moves closer to a stock market listing or IPO.

Sources familiar with the bond sales confirmed TechCrunch that the current yield of the bonds is 7.7%. The maturity for the bonds is either 2026 or when Telegram goes public, whichever is earlier. These bonds were issued at a price of $91— up from $78 of the last issue.

Telegram has more than 900 million users worldwide, issued bonds worth $210 million last year. The Dubai-headquartered Telegram has introduced new ways to earn revenue in the past few years, including through ads, username sales on the blockchain, and premium subscriptions. Earlier this month, the company announced that personal users can convert their accounts to business accounts by paying a subscription fee.